Market Nuggets: Fund Buying Sends Comex Gold To Record—RBC

16 September 2010, 9:04 a.m.
By Allen Sykora
Of Kitco News
http://www.kitco.com/

(Kitco News)--Fund buying has helped Comex gold futures hit all-time highs, says George Gero, vice president with RBC Capital Markets Global Futures. Technical-chart considerations may drive prices to the $1,300 area, where options-related volatility could occur, Gero says. As of 8:44 a.m. EDT (1252 GMT), December gold was up $5.40 to $1,274.10. It had been as high as $1,279.50, a new record for a Comex most-active contract.

By Allen Sykora, of Kitco News; asykora@kitco.com

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