Metals Stocks: Gold settles at highest price in 3 weeks as Treasury yields retreat

by | Oct 4, 2022 | Stock Market

Gold futures settled at their highest price in about three weeks on Tuesday, while silver ended at its highest level since June, as precious metals added to their strong gains from the prior session. Analysts attributed the advance in precious metals prices over the past week to a pullback in Treasury yields and the U.S. dollar.

Price action
Gold futures

for December delivery advanced $28.50, or 1.7%, to settle at $1,730.50 per ounce on Comex, the highest finish for a most-active contract since Sept. 12, FactSet data show..

Silver futures

for December delivery climbed 51 cents, or 2.5%, to $21.099 per ounce after surging 8% on Monday, the biggest advance for a most-active contract since February 2021. Silver futures settled at their strongest level for a most-active contract since late June.

December palladium futures
climbed $98, or 4.4%, to $2,330.20 per ounce, while January platinum
climbed $33.60, or 3.7%, to $933.70 per ounce.

December copper
climbed 8 cents, or nearly 2.4%, to $3.49 per pound.

Wh …

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