Gold futures settle at highest level in a month

[MNeagle]

SAN FRANCISCO (MarketWatch) -- Gold futures rallied by nearly $20 an ounce
Monday to settle at their highest level in a month, finding support from a
weaker U.S. dollar on the back of optimism over talks to avert the Jan. 1 fiscal
cliff of spending cuts and tax hikes. The precious metal also got a safe-haven
demand boost from worsening violence on the Gaza Strip. Gold for December /quotes/zigman/699338 GCZ2
+1.07%
(http://gold-silver.us/investing/future/GCZ2?link=MW_story_quote)delivery rose $19.70, or 1.2%, to settle at $1,734.40 an ounce
on the Comex division of the New York Mercantile Exchange. That was the metal's
highest settlement since Oct. 18, according to FactSet data.


http://www.marketwatch.com/story/gold-futures-settle-at-highest-level-in-a-month-2012-11-19-14911243



http://finviz.com/fut_image.ashx?gc.png&rev=634889335411742500

[BarnkleBob]

I can certainly understand the rising POG due to geopolitical tensions & CB purchases...but the rising POS alongside gold indicates something greater is occuring beneath the surface! Ya think maybe the Arabs are recalling collateral to protest the GAZA invasion?

[osoab]

I can certainly understand the rising POG due to geopolitical tensions & CB purchases...but the rising POS alongside gold indicates something greater is occuring beneath the surface! Ya think maybe the Arabs are recalling collateral to protest the GAZA invasion?

Probably due to fewer PPT players working since it is short trading week.

[Libertarian_Guard]

I can certainly understand the rising POG due to geopolitical tensions & CB purchases...but the rising POS alongside gold indicates something greater is occuring beneath the surface! Ya think maybe the Arabs are recalling collateral to protest the GAZA invasion?

Perhaps, but I still see current prices being range bound. No break out yet.

[gunDriller]

i think we might be seeing a dip from end-of-the-year profit taking, and a few people selling before taxes go up in 2013.


BUT - not too much of a dip, because Gold & Silver are growing in popularity, and people that sell their stocks got to move their money into something.


on the other hand, PM's have been tracking with the stock market, and the stock market looks poised on the edge of a cliff.


on the other hand, i might win the lottery and if i do, i'll buy a boat-load of silver.

OOPS. poor choice of words. :)