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
ounce.
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.
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US Gold Trade Dull, Dollar Strong
US gold futures rose very slightly, to hold just above recent lows Monday