NEW YORK, June 11 (Reuters) - U.S. gold futures rose on Monday, closing more than 1 percent higher as investors sought bargains after last week's steep losses, traders said.
"I think the move in gold was mostly technical. We came very close to that March low on Friday and then the selling stopped. Some people were doing some bargain hunting today," said one precious metals trader.
Most-active gold futures for August
on the COMEX division of the New York Mercantile Exchange finished $8.70 an ounce higher at $659.0 an ounce. It set a session range from $653.80 to $659.20 an ounce.
On Friday, gold touched its lowest level since March 5.
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