Gold futures on the COMEX Division of the New York Mercantile Exchange rose on Monday, heading for the all-time high as dollar weakened and oil rallied. Silver and platinum both ended higher.
The most active gold contract for December delivery climbed 8.90 U.S. dollars, or 0.9 percent, to finish at 1057.50 dollars an ounce. It touched as high as 1060.50 earlier in the session, nearing the record high 1062.70 set last Tuesday.
Buoyed by rising stock markets, investors' risk appetite forced dollar to go down. By the end of gold floor trading time, the dollar index, a gauge measuring the greenback's value against a basket of major currencies, tumbled 0.385 to 76.235 from 76.620 on late Friday. The precious metal's appeal of hedge strengthened.
The jumping oil also helped gold close higher. The benchmark contract for November delivery gained 1.55 dollars to settle at 73.32 a barrel when gold pit trading closed.
December silver was up 13 cents to at 17.82 dollars per ounce. January platinum rose 7.90 dollars to 1347.30 dollars an ounce.
