Saturday, November 6, 2010

Gold rallies to record, a whisper from $1,400

By Claudia Assis, MarketWatch

SAN FRANCISCO (MarketWatch) — Gold futures rallied to a fresh record high Friday, settling less than $3 away from $1,400 an ounce a day after their biggest one-day gain in nearly 20 months.

Gold for December delivery added $14.60, or 1.1%, to $1,397.70 an ounce on the Comex division of New York Mercantile Exchange. Silver and copper also hit historic high marks.

The metal went from losses to a solid rally in under three hours of floor trading, and kept going even as other commodities and the stock market moderated their gains.

Gold rose 2.9% on the week, on the heels of a 2.5% gain in the prior on

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