Stocks snapped a three-day losing streak Monday after an encouraging report on existing-home sales and a pullback in the dollar.

Stocks rallied Monday after an encouraging report on existing-home sales and a pullback in the dollar.

Stocks opened higher Monday as the dollar pullled back and gold hit a new record above $1,170 an ounce. The Dow was up more than 100 points at the open and continued higher after a report showed a sharp jump in existing-home sales.

A holiday-shortened trading week begun with all signs pointing to a higher open for Wall Street on Monday, with the dollar weakening and gold hitting a new record high above $1,167 an ounce.

Gold retreated from a record high above $1,170 an ounce on Monday as dollar weakness pushed the metal through key technical resistance levels, fueling momentum buying after the metal's sharp run higher earlier this month.

Gold prices continue to make fresh highs but there could be a possible correction come 2010, warned Bill McQuaker, head of equities & director of multi-manager funds at Henderson Global Investors.

Gold powered to a record above $1,160 an ounce on Monday after a rally in the dollar ran out of steam, strong oil prices resurrected inflation worries, and a drop in U.S. stocks stirred doubt about the economic outlook.

Gold powered to a record above $1,160 an ounce on Monday after a rally in the dollar ran out of steam, strong oil prices resurrected inflation worries, and a drop in U.S. stocks stirred doubt about the economic outlook.

Gold powered to a record above $1,160 an ounce on Monday after a rally in the dollar ran out of steam, strong oil prices resurrected inflation worries, and a drop in U.S. stocks stirred doubt about the economic outlook.

Oil prices rose Monday as strong U.S. housing data pressured the dollar and lifted expectations an economic rebound will bolster fuel demand.

Gold powered to a record above $1,160 an ounce on Monday after a rally in the dollar ran out of steam, strong oil prices resurrected inflation worries, and a drop in U.S. stocks stirred doubt about the economic outlook.

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Gold prices, which have already soared to record levels in recent weeks, could get a further boost from a new investor: central banks.

It is "not quite time yet" to raise interest rates in the U.S., Charles Plosser, president of the Federal Reserve Bank of Philadelphia, told CNBC Thursday.

Gold rallied late Friday in the face of a stronger dollar and ended higher for a third straight week on investor sentiment amid inflation concerns and economic uncertainty.