US gold futures gained over $2 on declining US dollar on Monday
US gold futures gained over $2 on declining US dollar on Monday, ending the session at three-day highs.
The most-active June gold contract settled $2.50 higher at $429 per ounce on Comex division of the NYMEX.
Dealers reported that a large order placed by a major Wall Street bank transacted through several separate brokerage firms gave prices most of their lift through the morning and helped quotes secure a footing above the $428 mark by 10:40 a.m.
The concurrent weakening in the U.S. dollar attracted follow-through buying from the commodity fund community and brought about a brief excursion above the
$429.50 level shortly ahead of the European session's close.