Gold futures ended Monday with a slight gain, giving up early losses to hold ground at their highest price since April. “For now, gold seems to be able to brush off any bearish factors, such as the risk of recession fading a little and a more optimistic tone on stock markets, and has built up sufficient support to keep it close to its highest level since April,” said Rupert Rowling, market analyst at Kinesis Money. However, “a lot of this is down to a perception of what the Fed will do, therefore if the Fed doesn’t conform to expectations, then the gold price could be in for a sharp shock.” Gold for February delivery GCG23 rose 40 cents, or 0.02%, to settle at $1,928.60 an ounce on Comex, marking a third straight session at the highest most-active contract settlement since April 22, FactSet data show.
Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit MarketWatch.com for more information on this news.
>>> Read the full story at MarketWatch.com - MarketPulse