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July 17, 2019, 1:39 p.m. EDT

Gold prices settle at a more than 6-year high

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    Gold Aug 2019 (GCQ19)

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By Myra P. Saefong

GCQ19

Gold futures climbed Wednesday to settle at their highest since May 2013, finding support from weakness in the dollar and expectations that the Federal Reserve will cut key interest rates later this month. "The dollar has eased back a little...allowing buck-denominated gold and silver to break further higher," said Fawad Razaqzada, technical analyst at Forex.com. "As well as a weaker dollar, these precious metals have found support from safe haven flows amid weakness on Wall Street, where positive bank earnings have failed to keep the indices at record levels." Traders await the Fed's Beige Book analysis of economic activity, due out shortly for further indications of the central bank's plan for interest rates. August gold /zigman2/quotes/210037406/delayed GCQ19 -0.15% rose $12.10, or 0.9%, to settle at $1,423.30 on Comex. That was the highest finish for a most-active contract since mid-May 2013, according to FactSet data.

Read the full story:
Gold futures climb to a fresh six-year high

/zigman2/quotes/210037406/delayed
US : U.S.: Nymex
$ 1,524.30
-2.30 -0.15%
Volume: 51.00
Aug. 26, 2019 4:40a
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