WASHINGTON (dpa-AFX) - Gold prices are higher Monday morning, extending previous session's gains, on weak global equity markets after the Japanese economy slipped into recession.
Gold futures for December delivery are up $3.00 or 0.25 percent at $1,188.60 an ounce, after rising to a two-week high of $1,193.60.
On Friday, gold futures ended up $24.10 or 2.1 percent at $1,185.60 an ounce.
For the week, gold gained about 1.5 percent, rising from a 4-year low near $1,130 as a number of Federal Reserve speakers foreshadowed a U.S. interest rate hike may come sooner than expected.
Silver for December is down $0.174 or 1.07 percent at $16.140 an ounce. Meanwhile, copper is down $0.012 or 0.39 percent at $3.035 per pound.
Traders are looking ahead to some crucial economic data, including reports on U.S. housing market and manufacturing activity, this week.
Markit's preliminary manufacturing PMI report for November, the Federal Reserve's industrial production report for October, the minutes of the October FOMC meeting, the jobless claims report, the Labor Department's report on producer prices for final demand and consumer price inflation, the Conference Board's leading economic indicators index for October are due the course of the week, besides some Fed speeches.
At 8:30 am ET, the New York Federal Reserve is scheduled to release the results of its manufacturing survey for November.
The Federal Reserve is due to release to release its industrial production report for October at 9:15 am ET. The consensus estimate calls for a 0.2 percent month-over-month increase in industrial output.
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