Daily Gold Update

Source: Marketwatch

New York— Gold futures climbed to their highest point in almost 28 years on Monday, with palladium and copper also posting strong gains. Gold for December delivery rose $4.10 to finish at $754.10 an ounce on the New York Mercantile Exchange. Earlier in the session, the contract hit $755, the highest level seen in nearly 28 years. The record intraday all-time high for a benchmark gold contract on Nymex stands at $875, set on Jan. 21, 1980.

"The market remains focused on dollar weakness," said Peter Spina, an analyst at GoldSeek.com, in emailed comments. "The moment the dollar started to weaken today, gold saw buying interest. This remains the driving force in the market." See full story.