Daily Gold Update

Source: Marketwatch

New York— Gold futures rose Thursday after the U.S. dollar fell against other major currencies as a batch of data rekindled concerns about the health of the U.S. economy, boosting demand for the precious metal. Gold for December delivery surged $10.40, or 1.1%, to close at $922.70 an ounce on the New York Mercantile Exchange. Earlier, the contract hit an intraday high of $933.70 an ounce.

Gold finished little changed on the month. It fell $11, or 1.1%, from June 30's closing level of $937.70. "Dollar weakness and the GDP surprise this morning are pushing the market up in gold [Thursday]," said Zachary Oxman, a senior trader at Wisdom Financial. See full story.