Daily Gold Update

Source: Marketwatch

San Francisco— Gold futures climbed past $690 an ounce Tuesday, sending the benchmark contract to its highest level since late July, as the metal found support from strength in oil prices and from greater physical demand coming from the Middle East and Asia. Gold for December delivery ended up $9.10, or 1.3%, at $691 an ounce on the New York Mercantile Exchange. It rose as high as $692 earlier. The contract hasn't traded or closed at levels this high in about six weeks.

"Gold has broken up through resistance, initially because of physical demand in the Middle East and Asia, whose gold season has now kicked off," said Julian Phillips, an analyst at GoldForecaster.com. See full story.