USD 64.2199

-0.21

EUR 70.9373

-0.3

BRENT 64.42

-0.41

AI-92 42.38

+0.01

AI-95 46.11

-0.01

AI-98 51.85

-0.02

Diesel 46.15

0

11

COMEX: Gold Futures Gain On Dollar Weakness

Gold futures on the Comex division of the New York Mercantile Exchange surged $4 higher Tuesday

Gold futures on the Comex division of the New York Mercantile Exchange surged $4 higher Tuesday amid thin trade. Continued softness in the U.S. dollar and news of an increase in consumer prices sustained speculator and investor interest in bullion, DJ reported.

The most-active December contract settled $4 higher at $421.60 per ounce.
The U.S. Consumer Price Index rose 0.2% last month, the highest rate since June, the Labor Department said Tuesday. The closely watched core index - which excludes typically volatile food and energy items - rose 0.3%, the fastest pace since April. In year-on-year terms, however, the CPI rose 2.5%, versus an increase of 2.8% in August.

The subdued tone of the dollar aided gold's ascent. But spurts of fund profit taking spurred by sagging oil prices kept December gold's gains in check, and tugged prices below the $422 level by settlement.

Support for December gold is seen around $417 while resistance is expected around $423 initially and then $425.

December silver followed gold's lead and generally drifted higher through the
session until the scaling of resistance at the 10-day moving average around $7.131 late introduced buying in the closing minutes that shunted December over 20 cents higher on the day.