Daily Gold Update

Source: Bill Musgrave, American Gold Exchange

Austin— Finished closed nearly flat, dipping 30 cents to $1,068, as rebounding energy shares spurred a stock rally, reducing demand for alternative assts. The metal is on pace for a monthly gain of 0.3%.

Natural gas surged more than 5% and crude jumped almost 3% as colder weather improved forecasts for demand this winter. Energy stocks followed suit, pushing the S&P 500 more than 1% higher and into positive territory for the year. The Dow picked up 1.3%, assisted by a rally in tech shares, led by Apple and Amazon.

Gold held fast despite a slightly stronger dollar, which typically weighs on commodities denominated in the currency for international trade by making them more expensive to foreign buyers. The other precious metals showed similar resilience, with silver adding 0.3% while platinum and palladium, more closely tied to industry, gained 1.2% and 0.8%, respectively.

At the Comex close: February gold dipped 30 cents to $1,068; March silver added 4 cents, to $13.93; January platinum jumped $10.40 to $891.20; and March palladium rose $4.40 to $556.35 an ounce.