Gold Futures on the Rise Again

Gold futures were rising Wednesday as traders received another round of economic data and the guessing about the bank stress tests continued, increasing demand for the metal as a safe haven.

June futures were climbing $6.90 to $911.20 an ounce at the Comex division of the New York Mercantile Exchange. The contract has traded as low as $895.40 and as high as $913.50 so far during the session. Silver futures were rising 32 cents to $12.72 an ounce, and copper prices were adding 7 cents to $2.15 a pound.

Gold prices were climbing into a higher trading range as inflationary fears and market jitters increased investment demand. Reports indicated that Bank of America(BAC Quote) might need $34 billion in capital after the government's stress tests, and an unemployment number, although better-than-expected, was still dismal at 492,000 losses in the private sector in April. ...