Gold Prices Rise to $1,321.10 an Ounce After Lows Last Week

Gold prices increased Nov. 4 after declining to two-week lows in New York last week.

By 8 a.m. in New York, gold futures for December delivery rose $6.61 to $1,321.10, Bloomberg reported. Gold prices in London gained $5.29 to $1,321.56 an ounce.

Later in the morning, gold futures were trading at $1,318.90 an ounce, still up more than $5 from the previous session, MarketWatch reported. An announcement from St. Louis Fed President James Bullard that the central bank would hold off tapering its stimulus program helped boost gold prices today.

Investors also speculated lower gold prices could spur demand against a rising dollar, Bloomberg reported.