Gold settles higher, up over 1% for the week


Gold futures settled with a gain on Friday to tally a rise of more than 1% for the week. “We saw a recovery bounce in oil prices…and a setback in [U.S. Treasury] yields, so that is good for gold,” said James Hatzigiannis, chief market strategist at Ploutus Capital Advisors. Still, “what we are looking for are signs of demand picking up in China and India,” and any signs of the economy opening up in the U.S., which should get gold rallying, he said. April gold
rose $9.20, or 0.5%, to settle at $1,741.70 an ounce. Based on the most-active contract, prices rose roughly 1.3% for the week, FactSet data show.


- Advertisement -

Leave A Reply

Your email address will not be published.