AP: Gold Ends Up 1% After Upbeat U.S., Chinese Data
NEW YORK -- Gold futures gained more than 1% to settle above $1,050 an ounce on Monday, as upbeat economic reports from the U.S., China and Europe put early pressure on the dollar, lifting the appeal of the precious metal. Gold for December delivery gained $13.60, or 1.3%, to end at $1,054 an ounce on the New York Mercantile Exchange. The contract earlier rose as high as $1,062.40 an ounce but lost ground as stocks began selling off, lifting demand for the dollar as a safe haven. After its official close on NYMEX, gold turned negative in electronic trade, recently losing 30 cents.
