Daily Gold Update

Source: Marketwatch

San Francisco— Momentum buying carried gold futures to a fourth record high in a row on Tuesday, but prices came off their intraday best. Gold had rallied more than 1% earlier, but the December contract settled 0.5% higher at $1,410.10 an ounce on the Comex division of the New York Mercantile Exchange. Silver soared 5.4%, settling at $28.91 an ounce � a fresh 30-year high for the metal. Copper ended at $4.04 a pound, its best since early July 2008. Platinum also finished at its highest in more than two years, while palladium settled at a nine-year high as fears of dollar weakness whetted investors� appetite for commodities.

Gold denominated in euros had traded at its best since the end of June and 3% shy of its record high, analysts at Commerzbank noted Tuesday. �Concerns about the risk of insolvency of euro-peripheral countries are back in the focus of market players,� they wrote in a note. See full story.