Gold’s sister metal, silver, was also luring bidders. May silver SIK6, +0.38% rose 20.4 cents, or 1.4%, at $14.918 an ounce, giving it a 4.6% monthly gain.GoldCore’s O’Byrne said he spotted signs that demand for gold in China had ticked higher late in the Asian trading day Monday.
Appetite for gold came as Asian markets finished mostly lower, led by the Shanghai Composite SHCOMP, +0.29% down 2.9%. Also Monday, the People’s Bank of China cut the level of reserves which major banks are required to hold by 0.5%—a move aimed at bolstering credit growth for the world’s second-largest economy.
In other metals, May copper HGK6, -1.15% settled at $2.133 a pound, up less than a penny for the session, and up about 2.9% for the month. April platinum PLJ6, +0.40% rose $19.20, or 2.1%, to $934.30 an ounce, scoring a monthly gain of 6.9%, while June palladium PAM6, +0.63% added $13.20, or 2.7%, to $495.65 an ounce—down about 0.7% on the month.
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