Gold closed higher Monday for third straight session

Gold closed higher Monday for third straight session


Gold futures edged higher Monday, booking a third session in a row of gains for the precious metal, as a soaring dollar pulled back from recent highs. Gold for June delivery
GCM22,
+0.24%

GC00,
+0.24%

added $5.70, or 0.3%, to settle at $1,847.80 an ounce on Comex, after Friday snapping four straight weeks in a row of declines. The string of gains lifted the most-active gold contract to its highest settlement value since May 11, according to Dow Jones Market Data. The rally also comes as a surging dollar
DXY,
-1.03%

retreated 0.9% on Monday, as measured against a basket of six major rivals. A stronger dollar can be a negative for commodities priced in the unit, making them more expensive to users of other currencies.



Source link

Leave a Reply

Your email address will not be published.