Daily Gold Update

Source: Marketwatch

New York— Gold futures ended fractionally higher Monday, after swinging between gains and losses during the session, as investors weighed the relative safety of the precious metal following a mixed batch of U.S. earnings and against a backdrop of key economic releases and Federal Reserve speeches on tap this week. Gold for August delivery finished up 40 cents at $953.50 an ounce on the Comex division of the New York Mercantile Exchange. Among other metals Monday, silver for September delivery gained 11.5 cents to $13.99 an ounce. A new silver exchange-traded fund launched on Friday is expected to further boost demand for the metal. Among other metals, copper for September delivery rose 1.8 cents to $2.54 a pound. October platinum gained 2.6% to $1,222.50 an ounce, while September palladium rose $2.40, or 1%, to $263.95 an ounce.

The dollar, which has served as a safe-haven currency during turbulent times since last year, gained back some ground as global investors curbed back risk taking in equities. A stronger U.S. unit tends to pressure demand for dollar-denominated commodities, such as gold, as it makes them more expensive for holders of other currencies. See full story.