Bloomberg.com: Commodities

Bloomberg.com: Commodities: "Feb. 9 (Bloomberg) -- Gold prices in New York rose to the highest in more than six months as the increasing cost of energy boosts the appeal of the precious metal as an inflation hedge.

Gold sometimes moves in the same direction as the price of oil, which today rose above $60 a barrel for the first time in a month. Gold reached a 26-year high of $732 an ounce in May, and oil climbed to a record in July.

``Oil helped pushed gold higher,'' said Frank Lesh, a trader at FuturePath Trading LLC in Chicago. ``The market is bullish.''"