Gold Futures Refuse To Give Back Friday's Huge Gain

August Gold futures are trading higher by $4.60 at $1247.50 per ounce in Monday's session. It has only briefly traded in the red as $1242.10 stands as the low for the day, which is just below Friday's close of $1242.90. Shortly after its 6:00 PM on Sunday night, it briefly reached $1251.30 before immediately falling back into the $1240 handle. That marks the highest level for the contract it reached $1256 on May 24. The last time it closed over $1250 was the previous day when it ended the session at $1254.90.