Commodity Blog

Commodity news, technical and fundamental analysis, market data on precious metals, energies, industrial metals, and soft commodities


U.S. Gold Futures Ht record; Target $900/oz

January 10, 2008 at 10:07 by Mario

NEW YORK, Jan 10 (Reuters) — U.S. gold futures rose sharply to a record high near $900 an ounce on Wednesday, as funds poured money on a dollar fall after Federal Reserve Chairman Ben Bernanke said the U.S. central bank stood ready to act aggressively to boost economic growth.

At 12:35 p.m. EST (1735 GMT), most-active gold for February delivery GCG8 on the COMEX division of the New York Mercantile Exchange jumped $13.70, or 1.5 percent, to $895.40 an ounce. Just minutes earlier, it hit a session high of $897.30.

Leave a Reply