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Gold Price Marks Highest Finish in More Than 8 Weeks


Friday, 27 December 2019 03:43 WIB

GOLDEMAS


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Gold futures settled above $1,500 an ounce Thursday, marking a third session of gains in a row and the highest finish for the precious metal since the end of 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 worries about stock market valuations being stretched at least in the U.S.

Gold for February delivery on Comex added $9.60, or 0.6%, to settle at $1,514.40 an ounce, its highest settlement since Oct. 31, according to FactSet data. On Tuesday, gold rose 1.1% to break above the psychologically important level at $1,500.

March silver tacked on 13.7 cents, or 0.8%, to settle at $17.99 an ounce, its highest settlement since Nov. 4, according to FactSet data. It surged 2% in the previous session.

Source : Market Watch


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