Monday gold extended its upward climb, picking up almost a half-percent to just over $900.00 an ounce for the first time in almost a month on rising dollar.
Spot gold cost $903.30 an ounce at 0148 GMT against $899.55 late in New York on Friday. It last traded above $900.00 on April 24, when spot hit a high of $906.30 an ounce.
Gold futures for June delivery on the COMEX division of the New York Mercantile Exchange added $5.40 an ounce to $905.30 an ounce in electronic trading.
A contract close above $900.00 an ounce could send gold futures to test the next resistance area between $920.00 and $925.00.
Oil rose 31 cents to $126.60 a barrel, edging closer to last week's record high near $128.00, stoking inflation concerns, typically a prompt to buy gold. Oil was underpinned by growing sentiment that the Organization of Petroleum Exporting Countries is reluctant to raise output.
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Gold Climbs Over $900/oz
Monday gold extended its upward climb, picking up almost a half-percent to just over $900.00 an ounce for the first time in almost a month on rising dollar
