Gold Settles Above $1,200 Before Year's Last Trading Day

Gold prices rose Tuesday ahead of the last trading day of the year, continuing a zigzag trend that has dominated the holiday-foreshortened weeks. Gold for February delivery rose $18.50, or 1.6%, to settle at $1,200.40 an ounce on the New York Mercantile Exchange. The February contract is up 0.4% for the week. Gold prices are off 0.2% for the year, given the most-active contract on Dec. 31, 2013, settled at $1,202.30 an ounce.