Gold futures settled higher for a second straight session on Monday, getting a boost in investor interest from weakness in the U.S. stock market as investor wariness over geopolitical events persists.
The market also awaited the Federal Reserve’s latest monetary policy decision, following a two-day meeting that ends Wednesday.
Gold for February delivery on Comex, the contract with the highest cumulative volume, tacked on $5, or 0.4%, to settle at $1,303.10 an ounce for its highest finish in about seven months. The April contract which boasts significantly higher open interest, added $5.10, or 0.4%, to finish at $1,309.30. April gold settled Friday at its highest since June.
March silver added 6.6 cents, or 0.4%, at $15.765 an ounce.