US Gold Jumped Monday

US gold and silver rose on Monday amid Fund buying and a weaker U.S. dollar.

June contract gold gained $1.60 to $430.40, peaking at $431.70, its strongest level since March 23.

"The dollar is very much on the retreat, and I think that is the basis of the rally." said Jim Steel, director of futures research in New York with Refco.

As gold was closing, the euro had risen to $1.2993 from $1.2933 last Friday.