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Gold Prices Climb as Fed's Evans Backs Easing Efforts (Update 1)

Written by: Joe Deaux 01/14/13 - 2:24 PM EST
Tickers in this article: ABX AUY EGO EURUSD=X GLD GOLD IAU

Updated from 11:13 a.m. EST with settlement prices

NEW YORK (TheStreet) -- Gold prices jumped Monday morning after Chicago Fed President Charles Evans said that further monetary easing would be necessary for now. Gold prices fell 1% on Friday.

Gold for February delivery rose $8.80 to settle at $1,669.40 an ounce at the Comex division of the New York Mercantile Exchnage. The gold price traded as high as $1,674.80 and as low as $1,659.50 an ounce, while the spot price was increasing $5.20.

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