Gold, oil keep advance after consumer confidence

(MarketWatch) — Gold and crude-oil futures held to gains Tuesday after a gauge of consumer sentiment came in slightly lower than expected but much better compared to the prior month. Crude for November delivery  added $3.08, or 3.9%, to $83.34 a barrel on the New York Mercantile Exchange. Oil had jumped to $83.50 a barrel right after the data but came off after that initial burst.

Gold for December delivery also traded higher initially, but recently hovered around the same pre-data levels. December gold   added $64.80, or 4.1%, to $1,660 an ounce on the Comex division of the Nymex. The Conference Board said its consumer-confidence index rose to 45.4 in September from 45.2 in August, when it had plunged on U.S. debt worries and other factors.

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Posted by VBN on Sep 28 2011. Filed under Gold. You can follow any responses to this entry through the RSS 2.0. You can leave a response or trackback to this entry