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Gold Extends Gains

The price of gold was extending gains for a second session Monday morning amid a steady U.S. dollar.

Gold for June delivery, the most actively traded contract, added $10.80 to $1,640.90 an ounce. Last week, gold lost nearly 3 percent after Federal Reserve policymakers said that the U.S. economy is gradually improving and appear less inclined to implement any more monetary stimulus.

Holdings of SPDR Gold Trust, the world's largest gold-backed exchange-traded fund, were unchanged at 1,286.62 tons.

This morning, the U.S. dollar was hovering near its 3-week high versus the euro and the Swiss franc, while trading a 2-week high against sterling. The buck continued to tick lower versus the yen.

Elsewhere, the price of silver was ticking lower, while platinum was moving higher in morning deals.

by RTTNews Staff Writer

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