The price of gold moved to the upside on Monday morning as traders returned from a three-day holiday weekend. With the rally, gold added to last week's gains and challenged the $900 mark again.
Gold for June delivery $897.00, up $13.70 for the session. Prices touched as high as $898.60 in early trading.
Gold's hedge value received a boost as the dollar gained versus other majors amid light trading on the day after Easter. The greenback softened a bit versus the euro and sterling, but held above the century mark against the yen.
Monday's trading is expected to remain subdued, with European markets closed along with a number of Asian markets. US traders may trickle back to their desks following the Easter break, but with no first-tier economic data on tap until Tuesday, big currency moves are unlikely.
Corporate news is likely to remain in focus with traders mulling the latest batch of earnings reports. Meanwhile, the Treasury Department is directing General Motors (GM) to prepare for a bankruptcy filing by a June 1 deadline, the New York Times reported, citing unidentified people with knowledge of the plans.
On Friday, gold fell to $883.30 an ounce, a decline of $2.60 for the day. The metal closed the holiday-shortened week up $14 an ounce.
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June 05, 2026 16:18 ET A busy week for economic news flow saw a slew of reports being released that reflected the trends in the U.S. labor market. In Europe, economic growth and inflation data gained attention as the European Central Bank and Bank of England head for policy session later in the month. In Asia, the monetary policy session of the Indian central bank was in focus as the country, a major oil importer, reels under the pressures of a weaker rupee and rising inflation.