Daily Gold Update

Source: Marketwatch

San Francisco— Gold futures rose for a second day in a row, as investors on Thursday firmed up their positions ahead of key employment figures in the next session. Gold for December delivery rose $11.60, or 0.7%, to settle at $1,653.20 an ounce on the Comex division of the New York Mercantile Exchange. �We�re seeing some consolidation going on after volatility in September and earlier this week, to some extent,� said Carlos Sanchez, a director at CPM Group in New York. �Overall, we are waiting to hear what the next headline could be,� he added.

Gold rallied 1.6% on Wednesday, after steep losses earlier in the week. The metal lost 11% in September. Investors waited for news on the U.S. jobs market, with the Labor Department scheduled to report on the payrolls and unemployment levels Friday. Meanwhile, other metals traded significantly higher, with copper and silver settling well above 4%. See full story.