Gold Books a Slight Gain As Doha-fueled Slump Subsides

By Markets MarketWatch Pulse

Gold futures closed fractionally higher Monday, but momentum for the precious commodity and other metals remained strong in the wake of a failed attempt to freeze oil output by some of the world's largest producers on Sunday. Traders believe that the metal is likely to trade higher amid worries about global growth and slumping crude prices . June gold settled 40 cents, or less than 0.1%, higher at $1,235 an ounce. The upbeat close for the yellow metal comes even as the Dow Jones Industrial Average climbed, touching an intraday level of 18,000 on Monday--a point not reached by the blue-chips benchmark since July, suggesting growing optimism around risky assets like stocks.

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