USD 73.6376

0

EUR 87.1722

0

BRENT 44.83

+0.17

AI-92 43.34

0

AI-95 47.59

-0.01

AI-98 53.06

+0.01

Diesel 47.91

+0.01

63

Gold Gained Immediately After Crude Price Jumped

Gold prices gained as crude oil traded near a two-month high

Gold prices gained as crude oil traded near a two-month high, stoking concern over rising raw material prices and prompting investors to buy the precious metal as a hedge against inflation.

Gold for immediate delivery gained as much as $2.63, or 0.4 percent, to $648.22 an ounce, and traded at $647.30 at 3:31 p.m. Singapore time.

Gold for February delivery gained $1.8, or 0.3 percent, to $652.40 an ounce on the Comex division of the New York Mercantile Exchange at 3:26 p.m. Singapore time, after rising as high as $653.90. A futures contract is an obligation to buy or sell a commodity at a set price for delivery by a specific date.