Gold futures settled with a modest gain on Monday, holding above $1,250 an ounce for a third straight session. For now, gold prices have established a new trading range between $1,240 to $1,270 an ounce, after falling out of the tight trading range around $1,300 last month as the stock market continued to grind higher, said Tyler Richey, an analyst for the 7:00's Report. August gold climbed $1.40, or 0.1%, to settle at $1,253.90 an ounce on Comex.

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