Gold pushed higher again Monday, within striking distance of its best level in a month, as financial markets kept attention fixed on global growth fears and a recessionary alarm persisted in the bond market.
Bond yields had settled down on Monday after Friday's action marked the first U.S. curve inversion since 2007, but concerns around this oft-referenced recession signal persisted. U.S. stocks were indicating a mildly firmer open.
Gold for April delivery on Comex rose $3.90, or 0.3%, at $1,316.10 an once. It settled Friday at $1,312.30, the highest finish for a most-active contract since Feb. 28. The contract scored a weekly gain of 0.7%, which marked its third weekly rise in a row, according to FactSet data.
The gold-backed SPDR Gold Shares exchange-traded fund edged up by 0.4%, after logging a weekly rise of 0.8%.
In other metals trade Monday, May silver rose 9 cents, or 0.6%, at $15.50 an ounce, and had settled up 0.5% for last week.
Source : MarketWatch