Daily Gold Update

Source: Marketwatch

New York— Gold futures edged higher Monday as concerns about Greece's aid package and euro-zone countries provided a floor for prices, but a stronger dollar capped bigger gains. Gold futures for June delivery, the most active contract, gained 30 cents, or 0.03%, to settle at $1,154 an ounce on the Comex division of the New York Mercantile Exchange. It earlier hit an intraday low of $1,151.10 an ounce and an intraday high of $1,160.70 an ounce. Other metals tracked gold's moderate gains, with platinum setting a 20-month high for a most-active contract.

Concerns about Greece's aid package was "underlying some of the support," for gold prices, said Stephen Platt, an Archer Financial Services commodity analyst in Chicago. "People don't know how far (European authorities) will have to go, and how far they will need to go. You are also starting to hear a bit more about Spain and Portugal, although people say they are not as bad (as Greece)," Platt said. See full story.