Gold prices jump to start May trade amid subdued dollar, bond yields

SourceCNBC
SectorFinancial Markets
CountryMiddle east

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
GCM21, +1.40%
GC00, +1.40%
 rose $17.60, or 1%, to trade at $1,785.50 an ounce. Meanwhile, July silver
SIN21, +3.31%
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...