Gold futures edged higher on Monday, settling at their highest in almost two weeks as prices extended recent gains scored on the back of expectations for a U.S. Federal Reserve interest-rate cut at the end of the month.
Gold for August delivery on Comex added $1.30, or about 0.1%, to settle at $1,413.50 an ounce. That’s the highest most-active contract settlement since July 3, which saw a finish at $1,420.90—the highest since May 2013, FactSet data show. September silver also rose 12.9 cents, or 0.9% to $15.365 an ounce.
In other metals trade, October platinum rose $10.60, or 1.3%, to $845.20 an ounce, while September palladium jumped $20.50, or 1.3%, to $1,562.90 an ounce.
September copper gained 1.7 cents, or 0.6%, to $2.711 a pound.