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Gold Soared On Dollar Loss

Precious metals gained amid the dollar's loss

The dollar's loss was the precious metals' gain, as futures rose across the board Monday, Dow Jones reported.

August gold settled up $2.60 at $428.40 and peaked at $429.50, its strongest level since May 12, on the Comex division of NYMEX.

"It's been sort of a quiet day, but gold has had a nice bid tone to it," said Paul McLeod, vice president for precious metals at Commerzbank. "So has silver. It's gaining a little momentum.