Gold futures headed higher Thursday, on pace for a third session of gains in a row and the highest finish for the precious metal since late October.
Bullish gold investors say bullion has benefited in recent trade on doubts about a China trade deal being completed, concerns about the implications of President Donald Trump's recent impeachment by the House, and concerns about stock market valuations being stretched at least in the U.S.
Gold for February delivery on Comex rose 0.4% to $1,511.10 an ounce, after hitting a intraday peak at $1,512, which would mark the highest level for the most-active contract since Oct. 31 when it closed at $1,514.80, according to FactSet data. On Tuesday, gold rose 1.1% to break above the psychologically important level at $1,500.
March silver tacked on 19 cents, or 1.1%, to $18.045 an ounce, after surging 2% in the previous session. Gold's sister metal is trading at its highest level since Nov. 4, when it finished at $18.066 an ounce, according to FactSet data.
Source : MarketWatch