Gold for April delivery settled down 80 cents to $1,348.20 an ounce at the Comex division of the New York Mercantile Exchange on extremely low volume. The gold price Monday has traded as high as $1,354.50 and as low as $1,344.10. The spot gold price was up $1.20, according to Kitco's gold index.
The U.S. dollar index was adding 0.01% at $78.06 while the euro was slipping 0.08% at $1.35 vs. the dollar.
Gold is still trading in no man's land with the metal searching for a catalyst. With investor attention on stocks and multiple M&A deals, gold is having a hard time finding direction.The metal has seemed to stem its violent January selloff, which brought prices down to $1,307 and close to the $1,300 support level. Friday's disappointing jobs number did little to help gold despite the fact that it ensured no rate hike in the near future.
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