Gold Futures Extend Rally

The dollar was weaker against the euro Thursday despite buoyant economic news, helping drive gold higher.

Prices for February-dated futures jumped $6.60 to close at $636.90 an ounce on the Comex division of the New York Mercantile Exchange. The bullion ETFs, iShares COMEX Gold Trust(IAU Quote) and streetTRACKS Gold Shares(GLD Quote), were also gaining, up about 1.1% recently.

"Mostly it's been dollar-watching," says James Moore, a gold analyst at TheBullionDesk.com. "But the market has been thin, and the move shows we are very much in holiday mode." ...