Gold futures climbed sharply Monday morning as weakness in the dollar and subdued yields for government bonds helped to revive some buying in bullion after last week’s drop.
Gold for June delivery
rose $17.60, or 1%, to trade at $1,785.50 an ounce. Meanwhile, July silver
was up 72 cents, or 2.8%, at around $26.57 an ounce.
Some market participants attributed the gains for silver and gold on the session to a hunt for bargains after last week’s skid.“The gold and silver bulls have regained the slight near-term technical advantage,” wrote Jim Wyckoff, senior analyst at Kitco.com.“Gold and silver prices are solidly up in early U.S. trading Monday, on some perceived bargain hunting and amid bullish outside market forces that include a weaker...read more...