Reply #17: Gold futures top $450 an ounce in NY (first time since 7/88) [View All]

[UpInArms]

http://cbs.marketwatch.com/news/newsfinder/pulseone.asp?guid={F83A28CB-CB68-4337-93BF-7EDBC8433EF1}&siteid=mktw&dist=bnb

SAN FRANCISCO (CBS.MW) -- Gold futures climbed above $450 an ounce Monday morning for the first time since July of 1988. December gold was last at $451.20, up $1.90. "It's going to be a very busy week with all the data due to be released," said Dale Doelling, chief market commentator at Bullion.com in Chicago. "Multiple closes above $450 will be needed to keep gold moving forward, but ... a dip back to the $438-$440 area would be healthy for the market at this juncture," he said. Mining shares, however, fell, giving back part of Friday's gains. The CBOE Gold Index ($GOX) was down 0.4 percent.