Gold futures ended higher for fourth straight session on Monday, whetted by the risk aversion in the market after the equities fell and dollar subdued to a two and half month low followed by a dip in weekly US employment number signalling chances for maintaining lower interest rates. Lower interest rates reduce the opportunity cost of holding non-yielding bullion. The yellow metal for the most active contract marked a three-month high level finish.
Gold futures for June rose by $6.30 or 0.3% higher at $1,837.60 an ounce on the Comex division of the New York Mercantile. Spot gold jumped by 0.4% to $1,836.89 per ounce.