US gold futures rose very slightly, to hold just above recent lows Monday
US gold futures rose very slightly, to hold just above recent lows Monday on the New York Mercantile Exchange?s Comex division, being unable to get a close above the psychologically significant $420 per ounce level due to the stable US dollar.
The most active February contract settled 20 cents higher at $419.70 an
February gold started out above the $420 and nosed above the $421 mark
intermittently through the morning on light speculative bargain hunting and
dealer short covering.
However, follow-through interest remained very light while the U.S. dollar
put in a solid showing against its major rivals.