Gold rises as US dollar weakens

CHICAGO, Nov. 7 (Xinhua) -- Gold futures on the COMEX division of the New York Mercantile Exchange rose on Monday as the U.S. dollar weakened.

The most active gold contract for December delivery rose 3.9 U.S. dollars, or 0.23 percent, to close at 1,680.5 dollars per ounce.

Gold holds near its multi-week highs reached late last week, triggering some market analysts to speculate that a market bottom has been in place.

Investors are also waiting for the U.S. Labor Department report on the consumer price index, a barometer of inflation, on Thursday.

Silver for December delivery rose 13.5 cents, or 0.65 percent, to close at 20.919 dollars per ounce. Platinum for January delivery rose 28.9 dollars, or 3.01 percent, to close at 989.4 dollars per ounce.