Special Report: Global Financial Crisis
CHICAGO, Dec. 22 (Xinhua) -- Gold futures in New York rose Monday as dollar declined.
Gold futures for February delivery rose 9.80 U.S. dollars, or 1.2 percent, to 847.20 dollars an ounce on the New York Mercantile Exchange.
February gold traded firmer, halting a two-day slide, as dollar index dropped more than 1 percent.
Gains in gold have been limited by a sharp break in oil prices and a slide in equity markets on Wall Street, which reminded some traders that current economic conditions remain weak.
Under the current economic situation, investors prefer the more traditionally safe investments of government bonds and gold to the stock market. It is believed that gold has more potential to advance than other investments.