Daily Gold Update

Source: Marketwatch

San Francisco— Gold futures rallied more than 2% on Friday, looking certain to snap a two-day losing streak as investors bought the metal ahead of the weekend and the potential for worrying headlines. Gold for December delivery added $37.70, or 2.2%, to $1,816.80 an ounce on the Comex division of the New York Mercantile Exchange, close to session highs. The contract traded as low as $1,765.40 an ounce and as high as $1,825 an ounce. Most other metals also traded higher, with December silver trading up $1.31, or 3.3%, to $40.80 an ounce.

�You don�t want to go into the weekend short on gold,� said Matt Zeman, head trader and strategist at Kingsview Financial in Chicago. �People would rather be safe than sorry.� Gold dipped under $1,800 in recent sessions, and the lower prices have also enticed buyers back to the market, he added. See full story.