Gold lifts on Comex

Gold futures have risen as losses in US equities and turbulence in emerging-market stocks bolster the precious metal's appeal as a haven. The most actively traded contract, for December delivery, on Monday rose $US3.40, or 0.3 per cent, to settle at $US1, 218.80 a troy ounce on the Comex division of the New York Mercantile Exchange. The SP 500 stock index was recently down 0.4 per cent at 1,974.54, while the Dow Jones Industrial Average was down 0.4 per cent at 17,037.89. Gold is considered a store of value and a hedge against declines in stocks and bonds by some investors, who rush to buy the precious metals when other markets retreat. But gold's gains were muted as investors brace for a busy week of economic data from the US and Europe, said Bob Haberkorn, a senior commodities broker with RJO Futures, according to skynews.com