UPDATE: Gold futures settle above $1,800 for first time since 2011
Gold futures settled above $1,800 an ounce on Tuesday (http://www.marketwatch.com/story/gold-prices-see-subdued-action-as-metals-wrap-up-month-quarter-and-2020s-first-half-2020-06-30), the first time for a most-active contract since 2011. Prices for the haven metal continued to find support on the heels of uncertainty over a recovery in the economy, ending the quarter 12.8% higher and trading up by more than 18% for the first half of the year, according to Dow Jones Market Data. "With a potent combination of low rates, ongoing global monetary and fiscal stimulus and COVID-19 uncertainty, there is plenty of catalyst in the market for the price of gold to be well-supported," Steven Dunn, head of exchange-traded funds at Aberdeen Standard Investments, wrote in emailed commentary. August gold rose $19.30, or 1.1%, to settle at $1,800.50 an ounce. That was the highest finish for a most-active contract since Sept. 2011.
-Myra P. Saefong; 415-439-6400; AskNewswires@dowjones.com
(END) Dow Jones Newswires
June 30, 2020 14:33 ET (18:33 GMT)
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