Comex Gold Goes Higher

Comex gold futures maintained higher levels on Tuesday after drifting off highs amid light profit-taking in New York.

The benchmark December gold contract settled up $3.40 at $492.90 an ounce on the Comex at the New York Mercantile Exchange.

During the session the contract sprang to a fresh 18-year high of $494.50 an
ounce.

Traders have been anticipating the yellow metal to breach the $500 an ounce
level by early December. The last time gold reached $500 was on December 14,
1987.