P.M. Kitco Metals Roundup: Gold Ends Firmer on Short Covering, Bargain Hunting
(Kitco News) - Gold prices ended the U.S. day session modestly higher Monday in quieter trading. Mild short covering and bargain hunting were featured as trading in gold and silver has turned choppy on the daily charts recently. Gold market bulls were impressed by the yellow metal’s ability to secure mild price gains even though the key “outside markets” were in a fully bearish posture for the precious metals markets Monday--the U.S. dollar index was sharply higher and crude oil prices are solidly lower. April gold last traded up $3.70 at $1,674.30 an ounce. Spot gold was last quoted up $6.00 at $1,674.00. March Comex silver last traded down $0.288 at $31.67 an ounce.