Gold closed at its highest level in more than three months.

Earlier, in London, gold closed at $396.60, down from $401.

Gold closed today at $318.20 an ounce, up from last year's average of $271, the lowest since 1978.

Gold closed $1.30 to $1.80 higher, with the April contract at $449.40 an ounce.

In recent trading, gold has closed near the highs of the day, often opening higher the next morning.

Gold closed in London, the major foreign market, at a bid of $391.75 an ounce, down from $398.

Gold closed in London at a bid of $489.75 an ounce, up from $489.10.

In London, gold closed at $399.75 an ounce, down from $401.40.

Gold for current delivery closed up 50 cents, to $374.20 an ounce.

Gold closed in London, the major market, at a bid of $371.75 an ounce, down from $371.95.