Daily Gold Update

Source: MarketWatch

New York— Gold futures finished higher on Friday, as the dollar lost some steam after initially rallying after the September employment report showed in line gains for the month and big upward revisions of previous months. The dollar quickly ran into resistance and began to lose some steam, with the dollar index, which measures the greenback against a basket of major currencies, recently down 0.3%.

Gold for December delivery gained $3.40, or 0.5%, to close at $747.20 on the New York Mercantile Exchange. Earlier in the session, gold hit an intraday low of $750.70 and a low of $732.70. Gold, which is denominated in dollars, becomes more expensive to buy in other currencies when the dollar rises. By contrast, gold becomes cheaper when the dollar falls. See full story.