Gold futures move higher

In the U.S. commodity market, gold futures rose on Monday, driven by short covering operations triggered by a strong U.S. stock market, and bargain hunting by some other investors also supported gold. The settlement price of December gold futures on the New York Mercantile Exchange’s Comex rose by US$12.60. On Monday in the U.S. commodity market, gold futures rose. Driven by short-covering operations triggered by a strong U.S. stock market, bargain hunting by some other investors also contributed to gold. support. The New York Mercantile Exchange Comex December gold futures settlement price rose 12.60 US dollars to 742.90 US dollars per ounce. Michael Gross, a broker and futures analyst at OptionSellers.com, said the strength of the US stock market supports gold futures. Soon after the gold market closed, the Dow Jones Industrial Average stock price index rose 186.70 points to 8,565.65 points. Frank Lesh, a broker and futures analyst at FuturePath Trading, said that the better-than-expected performance of US housing data also played a role in boosting gold because the data boosted the stock market. Smith said that although silver futures closed lower, they still regained some of their lost ground driven by short covering operations. Comex December silver futures settled down 10 cents to $9.195 per ounce. At the same time, the New York Mercantile Exchange's January platinum futures settlement price fell 5.10 US dollars to 797.20 US dollars per ounce; December palladium futures rose 1.45 US dollars to settle at 175.40 US dollars per ounce. Previous: Major international gold markets Next: Gold stocks