MW: Gold rises as positive sentiment permeates market
By Claudia Assis
SAN FRANCISCO (MarketWatch) -- Gold futures rose Monday, tracking U.S. stocks as the metal continues to follow the lead of equities as safe-haven buying has largely dried up. "There is currently a high correlation between (speculators) positioning on" Comex and gold price movements, analysts at Commerzbank said in a note to clients Monday. Gold for December delivery GC1Z +1.00% rose $18.40, or 1.1%, to $1,654.70 an ounce on the New York Mercantile Exchange. Markets were cautiously optimistic European leaders will agree this week a comprehensive plan to address the region's debt crisis.
