Foreign Exchange : Dollar Gains Against Most Currencies

The dollar moved higher against most major currencies Monday as the foreign exchange markets remained edgy following last week’s sharp dollar decline.

Gold prices rose.

Republic National Bank of New York quoted a bid for gold bullion at $411 an ounce, up from $405.50 on Friday.

After declining at the beginning of the trading day in European dealings, the dollar was supported by West Germany’s central bank, the Bundesbank, which purchased around $22 million to support the U.S. currency, traders said.

Last week, the dollar hit its lowest levels against the West German mark since October, 1980.

Dealers said the dollar’s downward trend also was slowed by widespread expectations that finance ministers and central bankers of the “Group of Five” industrialized nations--the United States, West Germany, France, Britain and Japan--would meet soon to discuss measures for stabilizing the currency.