Gold drifted lower amid continued dollar strength but analysts said the metal's near term prospects have improved now that oil has staged a modest recovery
Lower oil prices pressure gold as they reduce the metal's appeal as a hedge against oil-induced inflation
The dollar climbed to a four-year high against the yen earlier and has remained steady against the euro after Friday's gains
322
Gold Dropped On Stronger Dollar
Gold drifted lower amid continued dollar strength but analysts said the metal's near term prospects