SAN FRANCISCO (MarketWatch) -- Gold futures rallied by nearly $20 an ounce Monday to settle at their highest level in a month, finding support from a weaker U.S.
dollar on the back of optimism over talks to avert the Jan. 1 fiscal cliff of spending cuts and tax hikes. The precious metal also got a safe-haven demand boost from worsening violence on the Gaza Strip. Gold for December delivery rose $19.70, or 1.2%, to settle at $1,734.40 an ounce on the Comex division of the New York Mercantile Exchange. That was the metal's highest settlement since Oct. 18, according to FactSet data.Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit MarketWatch.com for more information on this news.
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