Gold prices ended the U.S. day session modestly higher Monday and closed at a three-week high close. There was decent follow-through buying from Friday’s good gains that scored a bullish weekly high close. December Comex gold was last up $2.30 an ounce at $1,359.80. September Comex silver was last up $0.203 at $20.55 an ounce.
The dollar index, which tracks the greenback against six major currencies, was up 0.23 percent to 95.746.
Peter Hug, global trading director for Kitco Metals says 'Gold is digesting last week’s sprint higher and traded in an extremely tight range overnight. The GDP data from Friday should continue to provide underlying support for gold, but Fed speak remains the obstacle to a clear path higher,' he told Kitco News on Monday
We are also eagerly awaiting the July labor report due out this Friday. More on that as the week progresses.
Thai
Eng