Gold News & Info

Source: Marketwatch

New York— Gold futures ended higher Monday, edging up to touch a fresh four-month record high and shake off early weakness on dollar strength and continued investor enthusiasm for bullion. Gold for June delivery, the most active contract, gained 30 cents, or 0.3%, to $1,162.20 an ounce on the Comex division of the New York Mercantile Exchange. The contract earlier hit an intraday high of $1,170.70 an ounce.

"This market is taking whatever it can to go higher," said Frank Lesh, a broker and futures analyst with FuturePath Trading in Chicago. In a measure of continued investor interest in gold, the SPRD Gold Trust, the largest exchange-traded fund backed by gold, reported Monday a net inflow of nearly $427 million in the week ended April 5. Dollar weakness was certainly helping gold, particularly as short-term traders work with that inverse relationship in mind. Unlike last week, when dollar weakness itself fed safe-haven buying for gold, this time some buyers may be also loading up on gold at the onset of earnings season "just in case," Lesh said. See full story.