Daily Gold Update

Source: Marketwatch

New York— Gold futures rose Monday to end above $920 an ounce for the first session in a week, as the dollar fell against the euro, raising the metal's investment appeal. Gains in gold, however, were limited by tumbling oil prices, which reduce gold's attractiveness as a hedge against inflation.

August gold rose $10, or 1.1%, to end at $922.50 an ounce on the Comex division of the New York Mercantile Exchange, ending above $920 an ounce for the first session since July 7. With the gold contract having lost 1.6% last week, Monday's modest recovery reflected how demand from gold exchange-traded funds remains weak, analysts said. Traders and investors also awaited this week's quarterly financial results from big investment banks such as Goldman Sachs Group. "With weak physical and investment demand, the metal remains at risk to further downside pressure," said James Moore, analyst at TheBullionDesk.com, in a note. See full story.