Gold fell and rose in afternoon trade on Monday
Gold fell and rose in afternoon trade on Monday, with investors keeping an eye on currency and oil markets, which have dropped.
"It will stabilise at around $620 an ounce, but we are going to need some bullish news to galvanise the market higher," he said, adding prices were unlikely to collapse given long-term dollar weakness.
Spot gold hit a high of $632 an ounce before falling as low as $620.00. It was quoted at $625.40/626.90 by 1446 GMT, compared with $629.80/631.30 in New York late on Friday.
Gold touched $637 on Friday, its highest in a month, after the dollar fell against major currencies.