Gold Pushes Higher To Log Best Settlement In 3 Weeks

Gold futures logged sharp gains Monday, registering their third straight session advance, as investors' expectation for lower interest rates helped prop up the commodity amid higher prices in stocks and oil. A weaker dollar helped play its part to keep the dollar-denominated commodity buoyant. A weaker dollar makes the asset less expensive to buyers using other currencies. June gold finished $14.20, or 1.1%, to close at $1,258 an ounce. Gold's sister metal, May silver also enjoyed a healthy jump, advancing 60 cents or, 3.9%, to end at $15.98 an ounce. Both contracts for gold and silver logged their highest settlement levels since March 17, according to FactSet.

Copyright © 2016 MarketWatch, Inc.