Daily Gold Update

Source: Marketwatch

San Francisco— Gold futures posted only a modest gain Monday, as traders digesting reports of a possible major gold discovery and as the dollar attempted to regain some ground following a retreat to all-time lows against the euro. Gold for December delivery climbed 40 cents to close at $739.30 an ounce on the New York Mercantile Exchange after trading intraday as high as $741.60.

Overall, trader sentiment "remains firm as fallout from the recent credit crunch continues to draw safe-haven positioning," said James Moore, metals analyst at TheBullionDesk.com. See full story.