Daily Gold Update

Source: MarketWatch

New York— Gold futures advanced on Wednesday, as the dollar fell in the wake of data that showed tame core inflation and a sharp drop in housing starts, while surging crude oil prices also kept the precious metal at levels unseen in almost three decades.

"Gold is setting up for a big run to $800 now and it may just get there," said Kevin Kerr, editor of Global Resources Trader, a newsletter of MarketWatch, the publisher of this report. "We have not broken through key resistance and, as the dollar teeters on further weakness, we also head into gold jewelry season, [so] we will see massive buying on the physical and futures side," he said in a note. See full story.