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Gold re-captures $900 an ounce level

By Steve Goldstein
Last update: 5:22 a.m. EST Jan. 26, 2009
LONDON (MarketWatch) -- Gold futures re-took the $900 an ounce level on Monday, a level it dipped above and below on Friday. Futures were trading up $10.20 to $906 an ounce at 5:20 a.m. Eastern. Eugen Weinberg, an analyst at Commerzbank, noted the SPDR Gold Trust's holdings climbed another 13.5 tons. "This means that almost 40 tons were channelled into SPDR within just one week, clear evidence that investors are going increasingly for safety," he said in a note to clients.