U.S. gold futures finished $5 higher on Monday after initially surging to just below $800 in electronic trade, as a dollar slump and record crude oil prices prompted bullion investors to enter the market.
Most-active December gold settled up $5.10 at $792.60 an ounce on the COMEX division of the New York Mercantile Exchange .
It hit a low of $787.70. In overnight electronic sessions, COMEX gold traded as high as $798.30 as the dollar fell to a fresh record low against the euro and a major currency basket on speculation that the Federal Reserve will cut U.S. interest rates.
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US Gold Futures Rose $5 More
U.S. gold futures finished $5 higher on Monday after initially surging to just below $800 in electronic trade
