Daily Gold Update

Source: Marketwatch

San Francisco— Gold futures settled into another record Monday, narrowly posting gains as the dollar fell. Gold has closed at a record high for seven out of the past eight sessions. The metal looks set to notch its tenth year of gains, rising more than 18% so far in 2010 as investors sought the metal to protect their wealth. Gold for December delivery added 50 cents to $1,298.60 an ounce on the Comex division of the New York Mercantile Exchange.

Earlier in the day, the metal hit an intraday high of $1,301.30 an ounce, and swung in and out of positive territory for much of the session. �We�re just consolidating last week�s gains,� said Charles Nedoss, a senior market strategist with Olympus Futures in Chicago. �No big shakes either way today� as the metal got some support from a weaker dollar but investors were �a bit nervous about adding to their portfolios at the $1,300 level,� he added. See full story.