Gold futures moved higher on Monday, building on last week's climb to mark their highest finish in almost a week. "Seeing as dealers are keen to take on more risk today, it is likely that gold's positive move is almost exclusively down to the weakness in the dollar," said David Madden, market analyst at CMC Markets UK. The ICE U.S. Dollar Index (IFUS:DXY) was down 0.4% in Monday dealings, providing a boost to dollar-denominated gold prices. August gold rose $3.50, or 0.2%, to settle at $1,793.50 an ounce. That was the highest settlement since June 30, when prices ended above $1,800 for the first time since September 2011.
July 6, 2020, 1:45 p.m. EDT