Gold Driven Up by Iran Jitters

In the gold patch, the Amex Gold Bugs Index was rising, fueled by the higher metal prices, and was up about 0.5% recently. Shares of Iamgold(IAG Quote) and Yamana Gold(AUY Quote) were up 1.1% and 0.7%, respectively.

Turning to base metals, Comex March-dated copper contracts closed 2.4 cents higher at $2.878 a pound, taking the lead from gold.

As for industrial metals, aluminum giant Alcoa(AA Quote) said it reached a tentative agreement with striking United Auto Workers employees in Cleveland. The deal could see workers back on the job Jan. 2.

Shares of the smelting company were gaining 0.6% recently.