MW: Gold futures tally modest gains after new record
By Kate Gibson
NEW YORK (MarketWatch) -- Gold futures were mildly higher Wednesday after hitting another record high early on. "Expectations of further Fed easing has weighed on the dollar tone and in turn lifted gold," said Action Economics. "However, with the dollar already pricing in a Fed move and with third-quarter earnings not expected to be particularly good there are some calls for corrective action ahead," the analysts added. Gold for December delivery had risen as high as $1,314.80 an ounce in electronic trade on the New York Mercantile Exchange, but lately was up $1.30 at $1,309.60.
