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Gold futures were rising slightly Thursday as markets searched for direction.

Futures were climbing $2.40 to $898.10 an ounce at the Comex division of the New York Mercantile Exchange. Silver prices were rising 13 cents to $12.50 an ounce, and copper was trading flat at $2.07 a pound.

Rising gold prices indicate that investors are clinging to their safe-haven investment and preparing for more negative news, despite positive earnings results from



and other tech stocks.

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"There is still a lot of concern around," says William Adams, analyst at "With the banks learning about the

results of the stress tests Friday, people might be nervous ... and buying some gold into that."

Adams believes gold is looking technically better after finding a bottom at $865. "Lower prices attracted a bit of trade buying," he says.

The main question for gold bugs is when the precious metal will break through $900. Adams thinks futures will "trade

at the $865/$900 level for a bit longer ... there is more room on the upside in equities and industrial commodities that will take the shine off gold."

But that trend might not last. Some analysts believe global markets are in a bear market rally and that banks could see more losses. The overall economic outlook is unsettled enough to eventually spur a rebound in gold prices.

In gold stocks,

Newmont Mining


was rising 1.5% to $38.37, while

Barrick Gold


was up 3.7% to $29.05. Shares of

Yamana Gold


were climbing almost 4.5% to $7.68.

Agnico-Eagle Mines


was also rising 4.5% to $46.53, and

Gold Shares


exchange-traded fund was slightly higher at $88.29.

Alix joined TV in February 2007. Previously, she held positions in film and theater production, management, and legal administration. Alix has a degree in communications and theater from Northwestern University.