Gold Rebounds after Two Consecutive Declines

Gold prices rose on Monday, recovering from its recent losses, following two daily losses and the worst weekly performance in about 15 months.

A retreat by the U.S. Dollar (USD) provided support for the yellow metal.

Gold futures for August delivery gained $13.90, or 0.79%, to close at $1,781.80 per ounce.

This marked the highest daily rise for gold’s most active contract since June 4.

Meanwhile, silver futures closed higher, for the second session in a row, by 5.70 cents, or 0.22%, at $26.02 per ounce.