Silver futures gain nearly 6%; gold settles at its highest in 2 weeks

0
10

Silver futures rallied on Monday by nearly 6%, while gold futures finished at their highest in two weeks, with both precious metals getting a boost from weakness in the U.S. dollar. “Whether the metals can kick on from here or go in reverse depends almost entirely on the direction of U.S. dollar,” said Fawad Razaqzada, market analyst at City Index and FOREX.com. The dollar “will face a big test on Tuesday with the release of U.S. CPI data, which is surely going to be the main focal point for the week.” December gold GCZ22, -0.51% rose $12, or 0.7%, to settle at $1,740.60 an ounce on Comex, the highest finish for a most-active contract since Aug. 29, FactSet data show. December silver SIZ22, -1.16% added $1.09, or 5.8%, to settle at $19.86 an ounce, the highest since Aug. 17.

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

Previous articleThe Ratings Game: ‘Consumer spending has been remarkably stable,’ Visa CFO says
Next articleLands’ End hires American Eagle executive as next CEO

LEAVE A REPLY

Please enter your comment!
Please enter your name here