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Gold price's rise puts metal on track for highest settlement in 7 weeks


Tuesday, 24 December 2019 20:36 WIB

GOLDEMASSILVER


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Gold prices on Tuesday headed for a second straight gain and their highest level in about seven weeks, as the yellow metal scores some defensive positioning bets ahead of the Christmas holiday on Wednesday, market experts said.

Meanwhile, gold prices on Comex set to end an hour early at 12:30 p.m. Eastern Time and will be closed on Wednesday for Christmas.

Trading gains for the precious metal came even as stock benchmarks, which tend to move in the opposite direction of gold prices, rose to records — typically, a reflection of strong appetite for assets perceived as risky and away from those viewed as havens.

Gold for February delivery gained $4.40, or 0.3%, at $1,493.20 an ounce, but had touched an intraday high at $1,496.90, which would mark the highest settlement since Nov. 4, according to FactSet data. March silver tacked on 14 cents, or 0.8%, to trade at $17.63 an ounce.

Source : MarketWatch


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