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Gold futures settle above $1,800 for first time since 2011


Wednesday, 1 July 2020 01:11 WIB

GOLDEMAS


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Gold futures settled above $1,800 an ounce on Tuesday, the first time for a most-active contract since 2011.

Prices for the haven metal continued to find support on the heels of uncertainty over a recovery in the economy, ending the quarter 12.8% higher and trading up by more than 18% for the first half of the year, according to Dow Jones Market Data. "With a potent combination of low rates, ongoing global monetary and fiscal stimulus and COVID-19 uncertainty, there is plenty of catalyst in the market for the price of gold to be well-supported," Steven Dunn, head of exchange-traded funds at Aberdeen Standard Investments, wrote in emailed commentary.

August gold rose $19.30, or 1.1%, to settle at $1,800.50 an ounce. That was the highest finish for a most-active contract since Sept. 2011.

Source: Marketwatch


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