Gold Market Update : Epic Research Singapore

Gold futures closed marginally higher Monday, but momentum for the precious commodity looked upbeat after a meeting of key oil producers failed to yield an agreement on a hoped-for output freeze.

June gold GCM6, -0.19%  closed 40 cents, or less than 0.1%, higher to settle at $1,235 an ounce. The metal pared its gains from earlier in the session as the haven demand that followed the collapse of talks on Sunday in Doha, Qatar subsided and stocks reversed early losses to head firmly higher.

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