Gold moves up from low of the year, tracking higher oil and weaker stocks

Monday, 22 April 2019 18:50 WIB



Gold prices pushed up from the four-month low reached in recent sessions, in part as oil gains lifted the specter of inflation risk, against which gold can act as a hedge, and as stock futures pointed to a lower start for riskier assets.

A firmer dollar was limiting the metal’s upside, however.

Gold for June delivery rose $5.30, or 0.4%, at $1,281.30 an ounce early Monday. It settled Thursday at $1,276, the lowest finish for a most-active contract since Dec. 26, according to FactSet data.

In other metals trading, May silver added less than 1 cent, or 0.4%, at $15.015 an ounce, after logging a weekly loss of less than 0.1%.

Source: Marketwatch


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