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Tuesday, November 24, 2009
Gold Futures Extend Gains Into An Eighth Session
By Polya Lesova
MarketWatch Pulse
FRANKFURT -- Gold futures rose on Tuesday, extending their winning streak into an eighth session. Gold for December delivery, the most actively traded contract, was last up $5.40, or 0.5%, to $1,170.10 an ounce in electronic trading on Globex. It earlier hit an intraday high of $1,171.70 an ounce. On Monday, December gold climbed to a record of $1,174 an ounce, as the dollar fell against its rivals and war games in Iran boosted gold's appeal as a safe-haven investment. "As a whole, gold will continue to track risk sentiment," said James Moore, an analyst at TheBullionDesk.com, adding that the next upside target is likely to be $1,180 and $1,200.
Copyright © 2009 MarketWatch, Inc.
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