NEW YORK (MarketWatch) -- Gold rose Tuesday, trading above $980 an ounce as the dollar's latest decline -- to the lowest level against the euro in more than five months -- increased gold's investment appeal. "The beleaguered dollar had another punishing day (on Monday) and this weakness pushed gold to $988.50. The next level of resistance is $999, with the $1,000 mark likely to be breached soon thereafter," wrote analysts at Gold and Silver Investments in a morning note. The dollar also fell against other major rivals. The dollar index , which measures the performance of the greenback against a basket of global currencies, declined for a fourth-straight session. See Currencies. Gold for June delivery rose $3.70, or 0.4%, to $982.30 an ounce in early North American electronic trading. The more active August contract also rose, up 0.3%, to $982.60 an ounce. Gold has risen 11% this year, with virtually all of the year-to-date gains made last month. May's appreciation of 9.8% marked the biggest monthly gain since November. Holdings in the SPDR Gold Trust , the biggest gold exchange-traded fund, increased to 1,134.03 metric tons Monday, up 15.27 metric tons from a day ago, according to latest data from the fund. It's the first rise in six sessions. Copper reversed course on early gains, with the contract for July delivery falling 0.8%, to $2.301 a pound. Silver for July delivery, the most active contract, gained slightly to $15.800 an ounce. July platinum added 40 cents to $1,221 an ounce, while September palladium contract rose 20 cents, or 0.1%, to $243.95 an ounce.

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