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March 16, 2021, 1:39 p.m. EDT

Gold futures up a second session, at highest in 2 weeks

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By Myra P. Saefong


Gold futures settled with a gain on Tuesday to tally the highest finish in two weeks, as traders awaited the outcome of the Federal Reserve’s two-day meeting, which concludes Wednesday with a statement on monetary policy. "Overall, sentiment for gold is mixed as the economy continues to recover and inflation remains relatively muted," said Jason Teed, co-portfolio manager of the Gold Bullion Strategy Fund /zigman2/quotes/202310791/realtime QGLDX -0.64% . If the Fed decides to use asset purchasing to suppress recent increases in Treasury yields, that "could prove to be relatively bullish for the metal," he said. "The Fed's overall dovish stance would usually be a tailwind for gold, however, sentiment in the economy may overpower the Fed's typical effects." April gold rose $1.70, or 0.1%, to settle at $1,730.90 an ounce, the highest most-active contract finish since March 2, FactSet data show.

US : U.S.: Nasdaq
$ 21.66
-0.14 -0.64%
Volume: 0.00
June 18, 2021

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