: Gold futures log their first monthly gain since March

0
24

Gold futures finished a bit lower on Wednesday as Federal Reserve Chairman Jerome Powell spoke at the Brookings Institution, but prices ended the month with their first monthly gain since March. Silver also posted a rise for the month, its largest monthly percentage rise since December 2020. “A weaker U.S. dollar and falling 10-year Treasury rates…will continue to support gold and silver prices,” said Jeff Klearman, portfolio manager at GraniteShares, which runs the GraniteShares Gold Trust BAR, +1.06%. In turn, the dollar and 10-year rate levels will be “directed by inflation and economic strength or weakness exhibited in the U.S. and globally.” Gold for February delivery GCG23, +0.81% fell $3.80, or 0.2%, to settle at $1,759.90 an ounce on Comex. Based on the most-active contracts, prices ended 7.3% higher for the month, their first monthly rise in eight months, according to Dow Jones Market Data.

This article was originally published by Marketwatch.com. Read the original article here.

Previous articleKey Words: Howard Stern slams Oprah for ‘showing off her wealth’ while many people are struggling
Next articleXPeng stock is on a record rally as bulls shrug off bad earnings results

LEAVE A REPLY

Please enter your comment!
Please enter your name here