Gold prices jumped to 10-day highs on Monday
Gold prices jumped to 10-day highs on Monday supported by a rise in crude oil and a drop in the dollar, and dealers said the metal was expected to extend gains.
Gold soared to $556.60 an ounce before easing to $554.50 at the afternoon fixing, compared with $551.70/552.60 in New York on Friday.
Traders said physical demand was slow, while there was also little investment interest, as the New York futures market is closed on Monday due to the Presidents Day holiday.
Gold fell to a one-month low around $534 early last week as the market consolidated after a steep correction from a 25-year high of $574.60 reached on Feb. 2.