Gold futures climbed Monday for a fourth straight session, supported by a fall in the U.S. dollar to a roughly 2 1/2-month low, as well as some weakness in the stock market. The Nasdaq Composite has come under renewed pressure, said Dan Russo, portfolio manager at Potomac Fund Management, adding that this index was on the “verge of a relative breakdown.” Some investors “may be using this breakdown as a signal to rotate out of the Nasdaq and into the areas of the market that are leading,” including industrial metals and agricultural commodities, he told MarketWatch. “Precious metals such as gold are not leading yet, but they have been improving of late.” June gold rose $6.30, or 0.3%, to settle at $1,837.60 an ounce. That was the highest most-active contract settlement since Feb. 10, FactSet data show.
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