Daily Gold Update

Source: Marketwatch

New York— Gold futures fell Monday for a second session, ending at the lowest level in more than two weeks as the U.S. dollar continued to strengthen against the euro, curbing gold's investment appeal.Gold for June delivery fell $10, or 1%, to end at $951.70 an ounce on the Comex division of the New York Mercantile Exchange, the lowest settlement price since May 21. The more active August contract lost 1% to $952.50 an ounce.

The loss came after the yellow metal topped $980 an ounce earlier last week for the first time in more than three months. Gold ended last week's trading down 1.8%, but is still up nearly 8% this year. "The metal traded lower as the dollar staged a strong rally," said James Moore, an analyst at TheBullionDesk.com, in a note. "Given overbought chart indicators and the slight decline in SPDR holdings Friday, gold will continue to run into overhead resistance above the $980 level." See full story.