Gold Futures Finish Flat after Bin Laden’s Death

COMEX gold futures, per the June contract, settled near unchanged on Monday at $1,557.10 per ounce after a volatile session in the precious metals complex.

Gold futures reached a new record high of $1,577.40 last evening before plunging to $1,542.20 upon news that the U.S. had killed Osama bin Laden. However, the yellow metal rebounded into positive territory and reached an intra-day high of $1,575.40 ounce as the U.S. Dollar Index relinquished its gains.

This afternoon gold futures gave back their gains and finished fractionally higher, by $0.70 per ounce.  With today’s slightly advance, the yellow metal extended its monthly and year-to-date returns to 8.1% and 9.6%, respectively.

(Source: http://www.goldalert.com/2011/05/gold-futures-finish-flat-after-bin-laden-death/)