U.S. gold jumps 1 pct on weak dollar, fund buying

NEW YORK, May 4 (Reuters) - U.S. gold futures rallied 1 percent early on Friday on solid gains in the previous session, boosted by a weaker dollar and robust buying by funds, and prices are now within sight to test the $700 psychological level again.
At 10:06 a.m. EDT (1406 GMT), most-active gold for June delivery on the COMEX division of the New York Mercantile Exchange was up $6.60 at $691 an ounce, trading in a range of $682.60 to $692.20.
Jonathan Jossen, an independent trader, said from the COMEX floor that gold jumped largely because of a reversal of the dollar against the other major currencies.
"I think we are just catching up to where we should have been," Jossen said. He also cited strength in copper, silver and crude oil as well as higher open interest in gold futures.