Gold futures look to score their biggest daily gain since mid-December

by News Feed Editor | Jan 12, 2024 | Stock Market

Gold futures rallied Friday, prompting prices to turn higher for the week, as U.S. and U.K. airstrikes in Yemen, in response to Houthi rebel attacks on ships in the Red Sea, raised the precious metal’s appeal as a safe-haven investment. The U.S.-U.K. strikes on Yemen “clearly raise the threat of wider tensions, if not [a] major power conflict,” Adrian Ash, director of research at BullionVault, told MarketWatch.

In Friday dealings, gold for February delivery
GCG24,
+1.76%

GC00,
+1.76%
climbed $38, or 1.9%, to $2,057.20 an ounce on Comex. Most-active gold futures haven’t tallied a daily dollar and percentage climb that big since Dec. 14, FactSet data show.

The U.S. and British forces carried out joint strikes Thursday on targets in Yemen used by Iran-backed Houthis, …

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[mwai_chat context=”Let’s have a discussion about this article:nnGold futures rallied Friday, prompting prices to turn higher for the week, as U.S. and U.K. airstrikes in Yemen, in response to Houthi rebel attacks on ships in the Red Sea, raised the precious metal’s appeal as a safe-haven investment. The U.S.-U.K. strikes on Yemen “clearly raise the threat of wider tensions, if not [a] major power conflict,” Adrian Ash, director of research at BullionVault, told MarketWatch.

In Friday dealings, gold for February delivery
GCG24,
+1.76%

GC00,
+1.76%
climbed $38, or 1.9%, to $2,057.20 an ounce on Comex. Most-active gold futures haven’t tallied a daily dollar and percentage climb that big since Dec. 14, FactSet data show.

The U.S. and British forces carried out joint strikes Thursday on targets in Yemen used by Iran-backed Houthis, …nnDiscussion:nn” ai_name=”RocketNews AI: ” start_sentence=”Can I tell you more about this article?” text_input_placeholder=”Type ‘Yes'”]