Gold futures on the COMEX division of the New York Mercantile Exchange rose slightly Monday, as traders eyed the eurozone with uncertainty and a lower dollar boosted trading.[Company Registration in USA]
The most active gold contract for December delivery edged up 3. 6 dollars, or 0.22 percent, to settle at 1,623 dollars per ounce.
Gold extended its winning streak to four straight sessions Monday, as the precious metal settled at its highest level since June 19. Gold rose on a day when markets in general were slightly lower, as U.S. equities struggled to overcome some renewed negativity about the financial situation in Europe. Crude oil also saw a loss on the session, which did little to support gold.
Gold saw some buying after a mid-session weakening of the dollar. A lower dollar is a positive commodities in general, as it makes them less expensive for holders of other currencies.
[Company Formation | Offshore Company | Company Incorporation]Gold traders continued to closely monitor the actions of the U. S. Federal Reserve, as economic stimulus measures support the precious metal. Gold traditionally rises on fears of inflation. The Fed is scheduled on Wednesday to release minutes from the U.S. central bank's July meeting, which traders are expected to comb for hints of future quantitative easing policies.
Silver for September delivery gained 59.1 cents, or 2.11 percent, to close at 28.593 dollars per ounce.
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