Gold and other precious metals prices have risen as bargain-hunting investors trickled back into the beaten-down commodities market. Grain prices also rose, while energy futures fell, the Associated Press reported.
Precious metals and other commodities were hit hard in October by a strengthening U.S. dollar. Investors tend to buy commodities as a hedge against inflation when the dollar is weak and sell those investments when the greenback rises.
Gold for December delivery rose US$8.60 to US$726.80 an ounce Monday on the New York Mercantile Exchange, after rising as high as US$739.50 earlier in the session.
December silver rose 2 cents to US$9.750 an ounce, while copper for December delivery rose 1.1 cents to US$1.84 a pound.