After being pushed to a nine-month high yesterday on inflation concern and rising 8.4 percent in the past six months, gold was little changed, stoked by high oil prices that boosted the precious metal's appeal as a hedge.

Gold for immediate delivery was little changed at $667.05, Bloomberg.com reported, after rising 3.3 percent yesterday when it reached a nine-month high of $682.25.

Tokyo gold futures rose to a 21-year high, confirming some experts' opinions that investors buy gold when energy expenses increase.

A U.S. government report released yesterday showed consumer prices rose more than predicted in January, and crude oil in New York rose above $60 a barrel. The 0.2 percent increase in consumer prices in January, noted Bloomberg.com, gives credence to Federal Reserve Chairman Ben Bernanke's message that inflation remains a primary concern of the central bank.

In Japan, gold for delivery in December 2007 gained 2.3 percent. Tokyo futures have been supported by Japan's weak currency, and yesterday the yen reportedly had its biggest decline since Dec. 8 against the dollar and is trading near a record low against the euro.

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Meanwhile, gold futures for April delivery were down $3.70 or 0.5 percent in after-hours trading on the Comex division of the New York Mercantile Exchange.

We may see some profit-taking today on dollar strengthening against yen and euro, said one analyst, but the overall trend remains bullish.

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