Gold inches higher while other commodities decline

NEW YORK — Gold prices managed to carve out a small gain while other commodities fell after the latest economic data signals that the recovery will be slow.

A rise in the dollar is also hurting demand for commodities, making them more expensive to foreign buyers.

Commodities like silver, copper and oil are retreating after the Commerce Department revised its reading on third-quarter economic growth lower.

Demand for gold is holding up, however, as investors look for safe places to park their cash. Gold is seen as both an alternative to a weak dollar and a safe-haven investment because of its stable store of value.

Gold for December delivery is up $1.10 at $1,165.80 an ounce on the New York Mercantile Exchange.