RTTNews - Gold rallied to a five-week high on Monday morning, boosted by a weaker U.S. dollar and higher crude prices. The metal extended a recent rally with the climb.
August-dated gold rallied to $952.90 per ounce, up $15.40 on the session. Prices jumped $24.90 last week.
The dollar continued to tumble against the euro, hitting a six-week low. The greenback also dropped to a three-week low against the sterling. Gold usually moves opposite the dollar.
On the economic front, leading indicators data for June is due at 10 a.m. ET. An increase of 0.5% is forecast, compared to a rise of 1.25% in the month of May.
Silver for September delivery rallied to $13.70 per ounce, up 29.7 cents on the session. September-stamped copper rose 3.95 cents to $2.4625 a pound.
Light sweet crude for August rose 54 cents to $64.09. Prices had reached as high as $64.90 in electronic trades.
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