Daily Gold Update

Source: Marketwatch

San Francisco— Gold futures closed at a record settlement Monday on uncertainty about European sovereign debt and the potential for more U.S. dollar weakness. Gold for February delivery, the most active contract, gained $9.90, or 0.7%, to close at $1,416.10 an ounce on the Comex division of the New York Mercantile Exchange, surpassing its Nov. 9 record settlement of $1,410.10 an ounce. The contract earlier traded as high as $1,422.40 an ounce.

Investors zeroed in on a Sunday interview by U.S. Federal Reserve Chairman Ben Bernanke opening up for the possibility of committing more money beyond the $600 billion in asset purchases. Read more about Bernanke�s interview and potential easing �It�s unnerving that he feels we have a need to print more money and pump more money into the system,� said Matt Zeman, a trader at LaSalle Futures Group in Chicago. �People continue to get away from paper money.� Silver, meanwhile, ended at a new 30-year high. Silver for March delivery the most active contract, added 46 cents, or 1.6%, to $29.73 an ounce. See full story.