Gold News & Info

Source:MarketWatch

San Francisco— Gold futures edged lower Monday, pressured by some strength in the U.S. dollar and declining oil prices, but the precious metal held its ground above the $880-an-ounce level after gaining more than 3% last week. Gold for June delivery last traded at $883.20 an ounce on the New York Mercantile Exchange, down $2.60.

For the moment, gold remains capped by trend-line resistance at the $890 mark, said James Moore, analyst at TheBullionDesk.com. "Given the metal's reaction to pockets of dollar strength, it seems gold will find it tough to rally significantly," Moore said in a research note. On the currency markets Monday, the dollar rose in the aftermath of a weekend Wall Street Journal report that U.S. officials are attempting to put a floor under the greenback. See full story.