RTRS: Gold up over 2 percent on oil, off 1-month low
SINGAPORE, Oct 20 (Reuters) - Gold jumped more than 2
percent on Monday as bargain hunters resurfaced after oil
extended gains on expectations of an output cut by OPEC,
boosting the metal's appeal as a hedge against inflation.
Gold was trading at $796.95 an ounce, up $15.45 from
New York's notional close on Friday, when it hit a one-month
low of $771.30 as a lack of confidence in the financial system
and a dollar rally ignited heavy liquidation by commodity
funds.
