Gold inched higher Wednesday, but investors seemed unwilling to commit to new positions ahead of the Thanksgiving holiday.
February-dated bullion contracts closed up 30 cents at $635.40 an ounce on the Comex division of the Nymex, while contracts for December delivery closed at $629, also up 30 cents. By the end of the session, open interest on the February contract reached 11.9 million ounces, surpassing the 11.6 million ounce total for December positions. The later-dated contract now becomes the futures market benchmark.
Prices are being largely driven by professional investors who don't seem to want to enlarge positions ahead of the holiday weekend, says Bernard Hunter, director of precious metals at bullion bank ScotiaMocatta in Toronto. ...
Recent Comments
| Dow Jones | S&P 500 | NASDAQ | 10-Year Note | |
|---|---|---|---|---|
| 10,309.92 | 1,091.49 | 2,138.44 | 32.31 |
Oil *
77.12
|
|
DOWN
154.48
|
DOWN
19.14
|
DOWN
37.61
|
DOWN
0.48
|
10 Yr
3.23%
SPDR Gold
115.06
|
|
-1.48%
|
-1.72%
|
-1.73%
|
-1.46%
|
Data delayed 20 minutes |
Connect with TheStreet