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Jan. 20, 2021, 1:45 p.m. EST

Gold futures settle at a nearly 2-week high

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By Myra P. Saefong

Gold futures ended Wednesday at their highest in nearly two weeks. "Precious metals were supported above all by a weaker U.S. dollar, which fell further on the back of renewed strength for stock markets," with U.S. benchmark stock indexes /zigman2/quotes/210599714/realtime SPX -1.31% climbing to new records amid "ongoing reflation trade," said Fawad Razaqzada, market analyst at ThinkMarkets. This pushed foreign exchange investors into foreign currencies, as well as gold and silver, he said. The ICE U.S. Dollar Index /zigman2/quotes/210598269/delayed DXY +0.11% was little changed in Wednesday dealings, but traded lower for the week so far. February gold rose $26.30, or 1.4%, to settle at $1,866.50 an ounce. That was the highest most-active contract finish since Jan. 7, according to FactSet data.

-50.57 -1.31%
Volume: 2.72B
March 3, 2021 5:03p
US : U.S.: ICE Futures U.S.
+0.10 +0.11%
Volume: 0.00
March 3, 2021 9:55p

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