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May 24, 2022, 1:45 p.m. EDT

Gold finishes up about 1% Tuesday, book highest close in 2 weeks

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By Joy Wiltermuth

Gold futures closed higher Tuesday, scoring a fourth straight session of gains, as weaker U.S. economic data rattled the stock market and put a shine back on the precious metal. Gold for June delivery /zigman2/quotes/210034565/delayed GC00 +0.11% added $17.60, or 1%, to settle at $1,865.40 an once on Comex. "Gold should remain supported as inflationary pressures weigh further, China's COVID situation remains a big unknown, and corporate America continues to slash outlooks," said Edward Moya, senior market analyst in the Americas at Oanda. Gold's climb came as a strong dollar /zigman2/quotes/210598269/delayed DXY +0.48% pulled back, along with Treasury yields, which hit a 3 1/2 year high earlier in May.

/zigman2/quotes/210034565/delayed
US : U.S.: Nymex
$ 1,738.40
+1.90 +0.11%
Volume: 180.00
July 6, 2022 6:04p
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/zigman2/quotes/210598269/delayed
US : U.S.: ICE Futures U.S.
107.04
+0.51 +0.48%
Volume: 0.00
July 6, 2022 6:05p
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