Gold rises amid Syria fears, September jitters

Shimmering for two months now, gold has been helped by investors realigning their portfolios in advance of such things as the Fed's mid-September meeting; budget debates in Congress, and the German election Sept. 22.  Gold made a late day move higher Monday after U.S. Secretary of State John Kerry said the U.S. believes Syria used chemical weapons on its citizens and that President Obama believes anyone using chemical weapons should be held accountable. Kerry said the U.S. was reviewing what he called a "moral obscenity" with its partners.

"What I call a small fear premium suddenly appeared," said George Gero, analyst at RBC, of the move higher on the Syria news.

The December gold futures contract rose above $1400 in late trading, after closing at $1393.60 per ounce Monday. The metal broke $1400 for the first time in 11 weeks earlier in the trading day and reached an intra-day high of $1406.90.

There are a number of factors affecting the price, and gold is moving as a safe-haven asset and on other fundamental reasons, like the perception China's economy may be improving.

Read More: www.cnbc.com/id/100988809