CHICAGO, Feb. 26 (Xinhua) -- Gold futures on the COMEX division of the New York Mercantile Exchange settled higher on Monday as the U.S. dollar weakened.
The most active gold contract for April delivery rose 2.5 dollars, or 0.19 percent, to close at 1332.80 dollars per ounce.
The U.S. dollar index, a gauge of the greenback against a basket of other major currencies, fell 0.05 percent to 89.92 as of 1747 GMT.
Gold and the dollar typically move in opposite directions. If the dollar goes down, gold futures will rise as gold, measured in U.S. dollar, becomes more attractive to investors using other strong currencies.
Gold got additional support as the U.S. government debt yields fell on Monday. The benchmark 10-year Treasury note was lower at around 2.86 percent from four-year highs last week.
However, the rise of gold was curbed by the U.S. stock market as the Dow Jones Industrial Average went up 335.52 points, or 1.33 percent as of 1758 GMT.
Analysts note that when equities post gains, the precious metal feels the pressure, as investors are not necessarily looking for a safe haven such as gold.
As for other precious metals, silver for March delivery rose 6.6 cents, or 0.40 percent, to settle at 16.55 dollars per ounce. Platinum for April went up 3 dollars, or 0.30 percent, to close at 1,001.80 dollars per ounce.
