Gold futures climb on dollar weakness, oil's rise By Polya Lesova & Myra P. Saefong, MarketWatch SAN FRANCISCO (MarketWatch) -- Gold futures climbed Wednesday, playing off fresh weakness in the U.S. dollar and higher oil prices as the precious metal extended its strength from the previous session to finish at a fresh two-and-a-half month high. "With safe-haven buying as well as inflation hedging likely to draw further demand toward the gold market, the metal looks set to make further upside progress," wrote James Moore, an analyst at TheBullionDesk.com, in a research note. "Bullion remains fairly well-supported near the $920 and $930 marks at the moment, as participants factor in a small ECB rate hike ... and little in the way of a Fed response to inflationary pressures in the near term," Nadler said in emailed comments...
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