P.M. Kitco Roundup: Gold Sees Sharp Rebound On Short Covering, Bargain Hunting And Safe-Haven Demand

(Kitco News) - Comex gold prices ended the U.S. day session sharply higher Monday, on a strong short-covering bounce and some bargain hunting after hitting a nearly three-year low on Friday. Major rioting in Egypt also prompted a bit of safe-haven demand for gold. August gold was last up $31.50 at $1,255.20 an ounce. Spot gold was last quoted up $20.60 at $1,256.40. September Comex silver last traded up $0.09 at $19.56 an ounce.