On Monday gold futures were little changed after terminating last week at a three-month peak, as investors eyed movements of the dollar and the Federal Reserve's minutes due on Wednesday.
On the Comex division of New York Mercantile Exchange gold for June delivery rose 20 cents, or less than 0.1%, to
$1,225.50 an ounce.
July silver rose 9.2 cents, or 0.5%, to $17.655 an ounce.
July platinum climbed $1.40, or 0.1%, to $1,170.50 an ounce, while June palladium added $1.65, or 0.2%, to $796.60 an ounce.
July copper fell a penny, or 0.3%, to $2.9145 a pound.
Faith in the rally remains fragile among analysts, although gold has risen for two straight weeks.
“You almost get a palpable sense that traders don’t trust the recent strength in metals,” wrote Peter Hug, global trading director at Kitco Metals.
Market players now await the release of minutes from
the Fed’s April policy meeting due on Wednesday to make sure there will be no rate hike this summer.
In the meantime, the dollar was firmer, with the ICE dollar index, a measure of the U.S. unit against a basket of six major rivals, up 0.6%.
Since the end of April, the dollar index remains down 1.2%, mostly pressured by a rebound in the euro.
Jitters about Greece might give a boost
to gold. The aid form the
European Central Bank is seen coming to an end. ECB could force a resolution of the country’s
lingering showdown with its eurozone creditors over the terms of its
bailout.
