Matt Day
The Wall Street Journal
January 23, 2014
Gold futures rose to the highest price in more than nine weeks, taking cues from a retreat in the U.S. dollar after weak economic data.
The most actively traded gold contract, for February delivery, rose $23.70, or 1.9%, to settle at $1,262.30 a troy ounce on the Comex division of the New York Mercantile Exchange, the highest since Nov. 19.
Gold climbed early in U.S. trading hours following a batch of economic reports that could renew demand for the perceived haven of gold. Readings on manufacturing, national business activity and weekly claims for unemployment suggested slowing expansion in the world’s largest economy.
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