Gold futures settle at highest price in a week

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Gold futures on Wednesday tallied a third straight session climb, extending their rise past $1,800 to mark their highest settlement in a week. “While gold is likely to exploit the dollar’s weakness to push higher, its near-term outlook remains influenced by the U.S. jobs report on Friday,” said Lukman Otunuga, manager, market analysis at FXTM. “A strong jobs report that shows robust job and wage growth may reinforce expectations of a hawkish [Federal Reserve], dragging gold prices lower as the dollar regains its mojo,” he said. However, “if the jobs report disappoints, this could offer some relief to gold bugs, resulting in an incline back towards $1,831.” April gold GCJ22, -0.29% rose $8.80, or 0.5%, to settle at $1,810.30 an ounce. That was the highest most-active contract finish since Jan. 26, FactSet data show.

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

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