Gold News & Info

Source: Marketwatch

New York— Gold futures ended with a modest gain Monday, as weakness in the U.S. dollar boosted demand for the precious metal. Gold for June delivery rose $2.40 to end at $917.60 an ounce on the New York Mercantile Exchange. Earlier in the session, the contract surged to an intraday high of $931.40 an ounce.

"The lower weekly close in gold was bearish from a technical point of view," said Mark O'Byrne, executive director of Gold & Silver Investments Ltd., in a research note. However, "with oil and the dollar remaining near record highs and record lows respectively and with physical demand internationally and particularly in Asia and China remaining strong, gold is unlikely to fall below $900 per ounce," he said. See full story.