Capital Gold Group Report: Gold Climbs on Crude Oil Prices
SAN FRANCISCO (MarketWatch) -- Gold futures climbed as much as $13 an ounce Monday, extending their gains from the previous session, as crude-oil prices climbed to a fresh record.
Gold for June delivery touched a high of $871.90 an ounce on the New York Mercantile Exchange. It was last up $12.80, or 1.5%, at $870.80.
"I'd watch for dollar and energies to continue to direct moves in gold," said Zachary Oxman, a senior trader at Wisdom Financial, in emailed comments.
June crude rose past $120 a barrel in electronic trading Monday in New York to touch a new record, propelled by oil supply disruptions in Nigeria.
And on the currency markets, the U.S. dollar weakened even after a
report from the Institute for Supply Management showed that
nonmanufacturing sectors of the U.S. economy expanded during April
after three months of contraction.
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Capital Gold Group, gold group, gold, gold prices, gold news, gold coins, gold bullion, gold IRA, IRA gold
