Gold Futures Trade Gently Higher, Extending Gains

Gold futures traded modestly higher during European hours Monday.

Gold for December delivery  rose $5.70, or 0.3%, to $1,737 an ounce.

On Friday, gold futures rose, completing a weekly gain of more than 3%, as concern about the fiscal health of the U.S. and the euro zone persisted.

Investors also took heart from reports of strong demand coming from India and China.

And other market observers noted that President Barack Obama’s re-election suggested that the Federal Reserve’s quantitative-easing program, which is bullish for bullion, would continue.

Among metals to start the week, trading was narrowly mixed.

Silver for December delivery  ticked up 10 cents, or 0.3%, to $32.70 an ounce, while January platinum  added $11.40, or 0.7%, to $1,571 an ounce.

December copper  traded little changed at $3.45 a pound, with December palladium  off 90 cents, or 0.2%, to $610 an ounce.

Marketwatch