By Claudia Assis and Virginia Harrison, MarketWatch
SAN FRANCISCO (MarketWatch) — Gold futures wavered between small gains and losses Monday after trading higher for three consecutive sessions, as traders waited for a U.S. monetary policy meeting later in the week.
Gold for August delivery GCQ2 +0.03% rose 10 cents to trade at $1,618.10 an ounce on the Comex division of the New York Mercantile Exchange.
The head of the Eurogroup, Jean-Claude Juncker, was reported over the weekend as saying the euro-zone members and the European Central Bank (ECB) will soon act to save the euro.
The ECB also holds a policy meeting this week. Read more on Juncker's comments.
Traders hoped for more stimulus efforts in the U.S. and cheered additional comments in support of the euro and the integrity of the euro bloc.
Rising optimism about action to keep the euro and the euro bloc intact supported gold prices last week, leading to three days of gains up to Friday.
By Claudia Assis and Virginia Harrison, MarketWatch
SAN FRANCISCO (MarketWatch) — Gold futures wavered between small gains and losses Monday after trading higher for three consecutive sessions, as traders waited for a U.S. monetary policy meeting later in the week.
Gold for August delivery GCQ2 +0.03% rose 10 cents to trade at $1,618.10 an ounce on the Comex division of the New York Mercantile Exchange.
The head of the Eurogroup, Jean-Claude Juncker, was reported over the weekend as saying the euro-zone members and the European Central Bank (ECB) will soon act to save the euro.
The ECB also holds a policy meeting this week. Read more on Juncker's comments.
Traders hoped for more stimulus efforts in the U.S. and cheered additional comments in support of the euro and the integrity of the euro bloc.
Rising optimism about action to keep the euro and the euro bloc intact supported gold prices last week, leading to three days of gains up to Friday.
By Claudia Assis and Virginia Harrison, MarketWatch
SAN FRANCISCO (MarketWatch) — Gold futures wavered between small gains and losses Monday after trading higher for three consecutive sessions, as traders waited for a U.S. monetary policy meeting later in the week.
Gold for August delivery GCQ2 +0.03% rose 10 cents to trade at $1,618.10 an ounce on the Comex division of the New York Mercantile Exchange.
The head of the Eurogroup, Jean-Claude Juncker, was reported over the weekend as saying the euro-zone members and the European Central Bank (ECB) will soon act to save the euro.
The ECB also holds a policy meeting this week. Read more on Juncker's comments.
Traders hoped for more stimulus efforts in the U.S. and cheered additional comments in support of the euro and the integrity of the euro bloc.
Rising optimism about action to keep the euro and the euro bloc intact supported gold prices last week, leading to three days of gains up to Friday.
U.S. Federal Reserve officials meet Tuesday and Wednesday, with expectations mounting they could announce more monetary stimulus to support the U.S. economy.
A recent round of soft data has fuelled expectations of additional easing measures from the Fed . More liquidity tends to create upside for gold as the metal is seen as a safe store of value if currencies depreciate.
The broader metals complex was mostly higher.
September silver SIU2 +1.68% gained 36 cents, or 1.3%, to $27.87 an ounce. Copper for September delivery HGU2 -0.12% was off less than 1 cent, or 0.1%, to $3.42 a pound.
September palladium PAU2 +1.74% rose $8.85, or 1.6%, to $580.70 an ounce, while platinum for October delivery PLV2 +0.05% declined 60 cents to $1,407.60 an ounce.
Claudia Assis is a San Francisco-based reporter for MarketWatch.
Virginia Harrison is a MarketWatch reporter based in Sydney.
