Market Pulse Archives

Aug. 9, 2022, 1:43 p.m. EDT

Gold prices notch highest close in six weeks on Tuesday ahead of Wednesday's inflation report

Watchlist Relevance

Want to see how this story relates to your watchlist?

Just add items to create a watchlist now:

  • X
    Gold Continuous Contract (GC00)
  • X
    S&P 500 Index (SPX)

or Cancel Already have a watchlist? Log In

By Joy Wiltermuth

Gold futures closed at their highest level since late June on Tuesday, a day ahead of a closely watched update of the consumer-price index, which could help inform the Federal Reserve's next steps in its inflation fight. Gold for December /zigman2/quotes/210034565/delayed GC00 -1.13% rose 0.4%, or $7.10, to settle at $1,812.30 an ounce on Comex, the highest finish for the most-active contract since June 29, according to FactSet data. Gold has rallied for three straight weeks, helping to narrow the loss for the most-active contract in 2022 to about 3%, according to FactSet. The yellow metal rallied as stocks /zigman2/quotes/210599714/realtime SPX -0.94% fell and the ICE US Dollar index /zigman2/quotes/210598269/delayed DXY +0.27% slumped against a basket of rival currencies ahead of Wednesday's CPI update, which is expected to show a slight easing in cost pressures from their blistering 9.1% annual pace in June.

US : U.S.: Nymex
$ 1,944.80
-22.30 -1.13%
Volume: 49,048
Sept. 21, 2023 4:48a
-41.75 -0.94%
Volume: 0.00
Sept. 20, 2023 5:27p
US : U.S.: ICE Futures U.S.
+0.28 +0.27%
Volume: 0.00
Sept. 21, 2023 4:48a

This Story has 0 Comments
Be the first to comment
More News In

Story Conversation

Commenting FAQs »

Partner Center

Link to MarketWatch's Slice.