Gold futures headed higher early Monday, supported in part by a weakening U.S. dollar, which was providing a runway for the commodity even as global stocks rallied.
The U.S. dollar was off 0.5%, as measured by the ICE U.S. Dollar Index, a gauge of the buck against a half-dozen currencies. A weaker U.S. dollar can make assets priced in the currency more attractive to buyers using other monetary units.
Against that backdrop, August gold rose $4.30, or 0.2%, at $1,794.50 an ounce, after the most-active contract finished on Thursday around 0.5% higher for the holiday-abbreviated week, according to FactSet data. Meanwhile, September silver rose 34 cents, or 1.8%, at $18.660 an ounce, after the metal put in a weekly gain of 1.6%.
Source : Marketwatch
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