Gold Prices Again Creep Higher

Renewed buying interest from jewelry fabricators helped push gold prices higher Tuesday.

February-dated contracts closed up $5.60 at $615 an ounce on the Comex division of the Nymex. The bullion exchange-traded funds, streetTracks Gold Shares (GLD Quote) and iShares Comex Gold Trust(IAU Quote), were both up around 0.6% in recent action.

"The fact that physical buyers came into a falling market is relatively bullish as they tend to stand aside during times of volatility," notes Rhona O'Connell, an analyst at GFMS Analytics in London. "A period of sideways trading should encourage further interest." ...