Metals Stocks: Gold prices post first gain in 7 sessions

by | Aug 23, 2022 | Stock Market

Gold prices finished higher on Tuesday for the first time in seven sessions, with a pullback in the U.S. dollar helping to put an end to the yellow metal’s longest losing streak since early July. Silver prices also climbed to halt their longest string of losses since May.

Price action
Gold futures
for December delivery climbed $12.80, or 0.7%, to settle at $1,761.20 per ounce on Comex, following six session losses in a row for the most-active contract.

Silver futures
for September delivery tacked on 15 cents, or 0.8%, to $19.026 per ounce. The move for silver also follows six straight sessions of declines, the longest since the 10-session fall ended May 2, FactSet data show.

Palladium futures
for September delivery lost $8.90, or nearly 0.5%, to $1,972.90 per ounce, while platinum futures
for October delivery rose $8.40, or 1%, to $876.40 per ounce.

Copper futures
for September delivery advanced 4 cents, or 1.2%, to $3.6955 per pound.

What analysts are saying Rising Treasury yields and the U.S. dollar’s strength were blamed for driving the weakness in precious metals pric …

Article Attribution | Read More at Article Source

Share This