(Kitco News) – Gold prices ended the U.S. day session moderately higher and hit a four-week high Monday. More safe-haven demand was featured amid the recent U.S. stock market sell-off. Short covering by the futures traders, whose bearish bets recently are not paying off, and bargain hunting in the cash market were also seen in gold to start the trading week. A lower U.S. dollar index was also a bullish “outside market” factor working in favor of the precious metals market bulls Monday. December Comex gold was last up $8.70 at $1,230.40 an ounce. Spot gold was last quoted up $7.20 at $1,230.75. December Comex silver last traded up $0.037 at $17.34 an ounce.
