Gold’s post-Federal Reserve rally continued on Tuesday with the yellow metal on track to climb for a fifth straight session which would be the longest winning streak for a most-active contract since at least April. What is the market doing ?
expiring in December climbed $4.20, or 0.2%, to $1,791.90, its highest level since July 5.
expiring in September shed 11 cents, or 0.5%, to $20.26.
contracts expiring in October gained 90 cents, or 0.1%, to $903.70 per ounce, while palladium
contracts expiring in September shed $27.90, or 1.3%, to $2,171.50.
retreated five cents, or 1.3%, to $3.495 per pound.
What analysts are saying Gold prices have surged by roughly $100 per ounce over the past week from their lowest level since early 2021. Analysts have credited Federal Reserve Chairman Jerome Powell’s comment that the pace of interest rate hikes would likely slow with benefiting gold at the expense of the dollar, and Treasury yields, both of which have moved …