Gold futures up a third straight session, settle at highest since mid-September
Gold futures climbed for a third straight session Thursday, with prices for the most-active contract settling at their highest since Sept. 14. "Gold has also been supported because of inflation," said Fawad Razaqzada, market analyst at ThinkMarkets. "Some investors view the metal as a means of hedging against rising prices eroding the value of fiat currencies," he said. "Yet, higher inflation calls for tighter monetary policy, which should mean higher yields -- and higher yields [are] normally bad news for gold. So, the metal remains stuck between a rock and a hard place, despite its impressive comeback." December gold climbed by $3.20, or 0.2%, to settle at $1,797.90 an ounce. Prices briefly traded as high as $1,801.90, the highest since mid-September.
-Myra P. Saefong
(END) Dow Jones Newswires
October 14, 2021 13:41 ET (17:41 GMT)
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