Traders explain gold's upturn by the position of the dollar
New York gold futures jumped Monday.
April gold futures Exchange settled up $5.30 to $427.30 on the Comex division of the New York Mercantile Exchahge. The contract peaked at $427.70, a level not seen since the last trading day of January.
Traders explain gold?s upturn by the position of the dollar.
As gold was closing, the euro had risen to around $1.2975 from $1.2866 late Friday. A softer U.S. currency is generally supportive for gold and other metals.
Support for April gold is expected around $422 to $420.