Xinhua, Chicago :
Gold futures on the COMEX division of the New York Mercantile Exchange rose as crude oil edges up Friday, but the trade volume was light in post-Christmas trading.
The most active gold contract for February delivery rose 21.8 U. S. dollars, or 1.86 percent, to settle at 1,195.30 dollars per ounce.
Analysts said that the rise of gold prices after Christmas was mostly due to short covering by speculators as the precious metal slipped for three consecutive trading days.
Gold futures on the COMEX division of the New York Mercantile Exchange rose as crude oil edges up Friday, but the trade volume was light in post-Christmas trading.
The most active gold contract for February delivery rose 21.8 U. S. dollars, or 1.86 percent, to settle at 1,195.30 dollars per ounce.
Analysts said that the rise of gold prices after Christmas was mostly due to short covering by speculators as the precious metal slipped for three consecutive trading days.
