Sunday, January 08, 2006

Gold ends atop $541, up over 4% on week

SAN FRANCISCO (MarketWatch) -- Gold futures closed above $541 an ounce Friday to log a gain of more than 4% for the week with a decline in the U.S. dollar driving investors toward precious metals as a hedge against potential losses.

Gold for February delivery closed at $541.20 an ounce on the New York Mercantile Exchange after touching an intraday high of $541.80. Prices haven't closed at a level this high since March 1981, though on an intraday basis, they touched $543 on Dec. 12 of last year....

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