Gold Futures Edge Ahead - TheStreet

Gold Futures Edge Ahead

Bullion adds $1.80 to $674.10 an ounce.
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Precious metals prices were rising slightly Monday, but volume was thin in the New York market.

Benchmark gold futures were up $1.80 at $674.10 an ounce, while silver was ahead 8 cents at $12.79 an ounce.

The bullion exchange-traded funds that own stocks of the precious metals,

streetTracks Gold Shares

(GLD) - Get Report

and

iShares Silver Trust

(SLV) - Get Report

, were little changed.

The Amex Gold Bugs Index, which tracks shares of unhedged gold miners, was rising 0.8%. Component company

Randgold Resources

(GOLD) - Get Report

was rallying 1.6% after it announced it would engage in a joint venture project with

Iamgold

(IAG) - Get Report

in Senegal.

Shares of Iamgold were up 0.5%.

As for base metals, copper prices were slipping a penny at $3.53 a pound on news that striking workers in Chile would go back on the job after a walkout last week, according to the

Metals Insider

newsletter.

Miner

Southern Copper

(PCU)

was adding 0.5%.

In the foreign-exchange markets, the greenback was softening. One dollar was buying 118.6 yen, down from 118.81 yen late Friday. The euro was changing hands for $1.3679, up from $1.3640, and the pound was trading at $2.027, up a bit from $2.0254.

As for the agricultural complex, soybean prices were up about 1% at $8.49 a bushel, while coffee prices were falling 0.4% at $1.12 a pound.