gold

Global Shares Advance, Dow Hits Record, Gold Hovers Near One-month Lows

Gold futures prices traded lower on Monday as stock markets in the U.S. followed strength across global equities which witnessed gains in European and Asian benchmarks.

Gold futures for August delivery dropped 0.5 percent to trade around $1250.00 per ounce – hovering near one-month lows recorded last Friday. The precious metal extended its downward rally to the fourth day in a row and experienced losses in eight out of the last nine sessions.

All three major U.S. stock benchmarks soared on Monday with the Dow hitting a record as technology shares rebounded from a recent bout of sharp weakness. The Dow Jones Industrial Average jumped nearly 0.5 percent, hitting an all-time high of 21,490.00. The S&P 500 SPX jumped nearly 0.7 percent while the the Nasdaq Composite Index edged more than 1 percent higher.

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