Gold rises in correction

CHICAGO, Aug. 21 (Xinhua) -- Gold futures on the COMEX division of the New York Mercantile Exchange rose on Monday in correction following a four-week losing streak.

The most active gold contract for December delivery rose 6.50 U.S. dollars, or 0.34 percent, to close at 1,923.00 dollars per ounce.

The People's Bank of China, China's central bank, lowered its one-year loan prime rate by 10 basis points to