Gold News

The futures are bright for gold

Gold futures appear to be matching the progress of spot gold, with prices for December delivery rising nearly $2 per ounce by the end of yesterday's trade (September 10th).

Investors in the precious metal consider not only whether to buy gold but also how to buy gold, with futures often a popular option.

Yesterday's booming gold trade saw futures for December delivery hit a high of $715.50 in regular trading (excluding electronic overnight trading) before slipping back to close at a respectable $712.20 per ounce on the New York Mercantile Exchange.

The intraday high of $715.50 was the strongest since April of this year, suggesting that recent bullishness is now reaching impressive levels.

Gold and gold futures both enjoyed soaring trade on Monday as worries about the effects of the US sub-prime mortgage crisis were compounded US payroll news of 4,000 monthly job losses.

With oil prices also rising, gold became one of the day's most attractive investments, confirming its appeal as a safe-haven buy at times of strife.


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