Gold futures are holding solid gains and have pushed back above the key $1,200.00 level as midday approaches Monday. Heavy short covering, bargain hunting and even some safe-have demand are featured. Gold prices hit a five-week low on Friday and the bargain hunters decided to step in and buy the dip. Worries about the Greek-EU/IMF debt talks are also prompting some safe-haven demand for gold. The U.S. dollar index has also sold off during the trading session Monday, which is another a positive for the gold market.
June gold was last up $26.60 an ounce at $1,201.70.
