US gold breaks up to 7-week high, despite oil drag

Newswire

NEW YORK, Oct 30 (Reuters) - U.S. gold futures surged to a seven-week high above $613 an ounce in technical trade on Monday, bucking tumbling crude oil prices and a firm dollar, which bullion traders consider market negatives. With those drags, December gold at the COMEX division of the New York Mercantile Exchange halved its gains to settle $6.40 higher at $607.40 an ounce. It reached $613.20, a level last traded on Sept. 11, accelerating on the break above the overnight peak at ...

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