Daily Gold Update

Source: Marketwatch

New York— Gold futures moved higher Wednesday, as investors showered it with attention and other metals posted multimonth price highs. Gold for June delivery added $6.20, or 0.5%, to settle at $1,159.60 an ounce in the Comex division of the New York Mercantile Exchange. Underscoring investors' ongoing interest in the precious metal, the volume of gold contracts rose again Tuesday to 528,856, posting a fresher record volume since mid-January and inching closer toward the all-time volume high of nearly 594,000 contracts set in January 2008.

"Gold is now an international currency, and it's a safety play in a lot of instances," said Frank Lesh, a broker and analyst with FuturesPath Trading in Chicago. "Despite the fact that equities are up and economies do look a little better, there's still a need for safety, and gold is it." See full story.