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Gold jumps further above $1,500, poised for best weekly gain in 2 months


Friday, 25 October 2019 19:52 WIB

GOLDEMASSILVER


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Gold futures extended a gain above a key $1,500 price on Friday and looked poised to carve out a fresh near-term settlement high as investors positioned for more easing from global central banks, which could add further support for bullion.

December gold on Comex gained $9.20, or 0.6%, to $1,514.20 an ounce, which would mark the highest close for the most-active contract since Oct. 4, if it holds, according to FactSet data, following a 0.6% gain for the metal on Thursday.

For the week, the yellow metal was on track to rise 1.3%, representing its steepest such advance since the period ended Aug. 9, according to FactSet data.

Silver for December delivery meanwhile, jumped 48 cents, or 2.7%, to trade at $18.29 an ounce, following a 1.3% rise for the commodity a day ago. The white metal was on pace for a weekly gain of 3.7%, which would represent its sharpest such rise since the period ended Aug. 30.

Source : MarketWatch


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