Gold futures post biggest one-day gain in almost 3 weeks


Gold futures climbed on Monday to post their biggest single-session gain in nearly three weeks. “My sense is the inflation narrative is starting to take over from the [U.S. dollar] and Treasury yields as the key driver — and hence the strong showing,” said Ross Norman, chief executive officer at Metals Daily. “Gold has benefitted from the sentiment that the Fed is getting seriously behind the curve and the chance of a policy error are manifestly higher,” he said. April gold GCJ22, +0.77% rose $14, or 0.8%, to settle at $1,821.80 an ounce. Based on the most-active contract, prices marked their biggest point and percentage gain since Jan. 19 and highest settlement since Jan. 26, FactSet data show.

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