Haven gold pushed higher again Monday to tally its best finish in about a month, as financial markets kept attention fixed on global growth fears and as a recessionary alarm persisted in the bond market.
Bonds rose on Monday after Friday’s action marked the first U.S. Treasury yield curve inversion since 2007, feeding concerns around this oft-referenced recession signal. As such, U.S. stocks moved lower in Monday dealings as gold futures settled.
Gold for April delivery on Comex rose $10.30, or 0.8%, to settle at $1,322.60 an ounce, with prices for the most-active contract logging its highest finish since Feb. 26, according to FactSet data. The contract scored a gain of 0.7% last week, which marked its third weekly rise in a row, as investors sought the relative safety of precious metals away from risk-on markets, including stocks.
Source : Marketwatch