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02-17-2011, 03:35 PM
SAN FRANCISCO (MarketWatch) -- Gold futures climbed Thursday as concerns about unrest in the Middle East lifted prices to their highest level closing level in five weeks. April gold closed at $1,385.10 an ounce, up $10, or 0.7% on the Comex division of the New York Mercantile Exchange. That was the highest closing level for a most-active contract since Jan. 13. "Gold's been aided by geopolitical worries, specifically the hubbub over [possible] Iranian warships in the Suez Canal," said Brien Lundin, editor of Gold Newsletter, but "we'll need some fundamental economic support to keep gold advancing." Silver for March delivery also climbed by 94 cents to close at $31.57 an ounce, while March copper ended at $4.484 a pound, up 1 cent.
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