Daily Gold Update

Source: MarketWatch

New York— Gold futures rose Monday for the first time in three sessions as buying of the metal as a safe haven against the ailing economy returned. But trading could remain volatile and thin in advance of the holidays, analysts said. Gold for February delivery, the most active contract, closed up $9.80, or 1.2%, at $847.20 an ounce on the Comex division of the New York Mercantile Exchange. It rose 2.1% last week.

Gold has risen 3.3% so far this month, and it is poised to see a yearly gain of 1.4%. After falling below $700 an ounce in October, the lowest level this year, the metal has gained nearly $150. "Continuing safe-haven demand for gold seems to be driving the market," said Mark O'Byrne, executive director at Gold and Silver Investment. See full story.