Gold gets boost due to Contract Rollover

Comex gold futures are getting a boost from the rollover of the Feb contract into April.

7,000 contracts lost in the rollover but that is small as some 20,000 were added over the last few weeks, there is some hesitation at the open in gold due to the FOMC meeting later.

Though with the rollover and the buy stops being put in there is upward pressure.

April gold is up $6.60 at $656.80 an ounce, while Feb gold is up $9.30 at $653.50.