By Virginia Harrison, MarketWatch
SYDNEY (MarketWatch) — Gold futures rose in electronic trading Monday, supported by a weaker dollar and matching gains for the broader metals complex.
Gold for December delivery GC1Z +0.26% rose $6.90, or 39 cents, to $1,795.10 an ounce on the Comex division of the New York Mercantile Exchange during Asian trading hours.
The advance came amid a weakening dollar, with the dollar index DXY -0.04% , which tracks the U.S. unit against a basket of six major rivals, falling to 76.865, from 77.227 in North American trade late Friday.
A softer greenback can support investment in dollar-priced commodities such as gold, as it makes them more affordable to holders of other currencies.
The broader metals complex traded higher Monday in Asia, with copper the leading advancer.
December copper HG1Z +2.50% traded up 11 cents, or 3%, to $3.57 a pound.
Silver for December delivery SI1Z +0.25% added 13 cents, or 0.4%, to $34.81 an ounce.
January platinum PL2F +0.84% gained $15.70, or 1%, to $1,662.40, and December palladium PA1Z +0.36% rose $3.15, or 0.5%, to $665.96 an ounce.
Virginia Harrison is a MarketWatch reporter based in Sydney.
