Daily Gold Update

Source: Marketwatch

San Francisco— Gold futures ended slightly higher on Monday, saved from a steeper correction by ongoing interest in the metal and helped along by a weaker dollar. Gold for December delivery advanced 10 cents to $1,372.10 an ounce. Bullion made some short-lived forays into positive territory, but gold spent most of the session in the red, to recover only toward the end of floor trading. The market started to gather some steam as the dollar weakened, said Stephen Platt, a commodity analysts with Archer Financial Services in Chicago.

The dollar index, which measures the U.S. unit against a basket of six major currencies, declined to 76.96 from 77.038 late Friday. Traders are debating whether and when the Federal Reserve will move to unroll a new monetary stimulus program. Expectations the central bank is readying a new round of so-called quantitative easing has had a detrimental effect on the dollar and boosted commodities such as gold. Monday�s industrial production numbers bolstered claims monetary easing would come sooner rather than later. See full story.