Gold futures climbed for a fourth straight session on Monday, cementing the longest winning streak for a most-active contract since May 24, according to Dow Jones Market Data. The most-active December gold contract gained $5.90, or 0.3%, to settle at $1,787.70 per troy ounce, per FactSet data. Previously, gold cemented its biggest weekly gain since March on Friday, as metals prices benefited from the perception that the Federal Reserve might pivot to raising interest rates at a slower rate following Wednesday's 75 basis-point hike. "For now at least, gold is holding on to the recovery it made at the end of last week awaiting the next set of data, such as this week's US jobs figures, to provide insight on the health of the US and indeed global economy," wrote Rupert Rowling, a market analyst at Kinesis Money.
Aug. 1, 2022, 2:16 p.m. EDT