Gold price picks up as dollar dips

08:39, December 15, 2010      

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Gold futures on the COMEX Division of the New York Mercantile Exchange inched up Tuesday, paring earlier gains, as investors expected the U.S. Federal Reserve to keep borrowing costs low, boosting the appeal of the bullion as a store of value.

Earlier weakness in the U.S. dollar also added upward pressure on the precious metal.

The most active gold contract for February delivery added 6.3 dollars, or 0.5 percent, to 1,404.3 dollars per ounce.

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