Gold futures on the COMEX division of the New York Mercantile Exchange rose on Monday, mostly on technical buying as financial markets looked to potentially key developments this week on tax changes and interest-rate policy.
The most active gold contract for December delivery rose 7.1 dollar, or 0.55 percent, to settle at 1294.40 U.S. dollars per ounce.
Gold failed to gain much ground last week even though the dollar struggled. The two assets unhinged from their typically inverse relationship last week as the dollar extended its slump in the wake of U.S. Federal Reserve signals for a cautious approach to interest-rate tightening next year.
Uncertainty over the outlook for U.S. tax reform and its potential impact in supercharging the economy also supported the metal's move higher, hitting investor risk appetite and underpinning gold's value as a haven asset.
As for other precious metals, silver for December delivery went up 2.8 cents, or 0.16 percent, to close at 17.02 dollars per ounce. Platinum for next January added 5.5 dollars, or 0.58 percent, to settle at 950.8 dollars per ounce.
The most active gold contract for December delivery rose 7.1 dollar, or 0.55 percent, to settle at 1294.40 U.S. dollars per ounce.
Gold failed to gain much ground last week even though the dollar struggled. The two assets unhinged from their typically inverse relationship last week as the dollar extended its slump in the wake of U.S. Federal Reserve signals for a cautious approach to interest-rate tightening next year.
Uncertainty over the outlook for U.S. tax reform and its potential impact in supercharging the economy also supported the metal's move higher, hitting investor risk appetite and underpinning gold's value as a haven asset.
As for other precious metals, silver for December delivery went up 2.8 cents, or 0.16 percent, to close at 17.02 dollars per ounce. Platinum for next January added 5.5 dollars, or 0.58 percent, to settle at 950.8 dollars per ounce.
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