Daily Gold Update

Source: Marketwatch

New York— Gold futures rose for a fourth day Thursday and closed above $830 an ounce as a sliding dollar gave the precious metal fresh momentum and as the assassination of former Pakistani prime minister Benazir Bhutto increased geopolitical uncertainties. Gold for February delivery ended the session up $2.3, or 0.3%, at $831.8 an ounce on the New York Mercantile Exchange. The contract earlier rose to an intraday high of $835.5, the strongest in a month. Gold futures have moved up nearly $30 an ounce since last Friday.

"If gold prices needed any excuse to continue to trade at their highest levels in a month, they got it today," said Jon Nadler, senior analyst at Kitco Bullion Dealers, pointing to Bhutto's assassination. "The few participants who have opted to trade this week … have thus far enjoyed the best market in quite a few weeks," said Nadler. "Geopolitical uncertainties and fears add to the background conditions that are now propelling gold." See full story.