Gold settled higher on Monday, posting a partial rebound after a steep decline in prices last week. A falling U.S. dollar index
will prevent gold prices from crashing and for now, gold prices are likely in a “neutral zone,” said Chintan Karnani, director of research at Insignia Consultants. There are “chances of sharp pullback rallies,” as long as gold doesn’t fall below key support at $1,753, he said. August gold
rose $13.90, or 0.8%, to settle at $1,782.90 an ounce. Prices based on the most-active contract lost 5.9% last week, the biggest decline since the week ended March 13, 2020, FactSet data show.