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Gold Rises In Quiet Dealing

Gold futures edged higher Monday, even as rebounding stocks diminished the precious metal's safe haven appeal.

On a quiet day in economic news, Dec. gold settled at $1,278.90/oz, up $4.70, or 0.4%.

UK inflation is set to remain above the 2 percent target for next few years, Bank of England Chief Economist Andy Haldane wrote in a blog.

"Price rises across the whole economy are currently running well above the 2 percent inflation target and are expected to remain above-target for the next few years, according to the blog published by the BoE.

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