Gold futures settle at a roughly 2-week high

0
67

Gold futures climbed for a second straight session on Wednesday to settle at their highest in about two weeks. Gold responded, in part, to comments from a number of Federal Reserve officials, such as Minneapolis Fed President Neel Kashkari, who “while talking in hawkish tones, are also emphasizing the fabled ‘soft landing’ while taking on inflation,” said Jeff Wright, chief investment officer at Wolfpack Capital. Meanwhile, the U.S. announced new sanctions on Russia in response to its ongoing invasion of Ukraine, feeding haven demand for the precious metal. The U.S. also made it clear that gold-related transactions with Russia’s central bank are prohibited. April gold GCJ22, -0.35% climbed by $24.90, or 1.3%, to settle at $1,962.20 an ounce. That was the highest most-active contract finish since March 11, FactSet data show.

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

Previous article: ‘Mortgage rates are likely to push toward 5% before the end of the year’: Rates soar to highest level in over 3 years, putting pressure on home buyers
Next articleThe Moneyist: ‘We’ve been left out in the cold’: My mother named my sister beneficiary of her estate, but wrote a letter wishing to divide it among her 3 children. What now?

LEAVE A REPLY

Please enter your comment!
Please enter your name here