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July 29, 2021, 1:54 p.m. EDT

Gold prices climb nearly 2% to settle at highest in over 6 weeks

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    Gold Dec 2021 (GCZ21)

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By Myra P. Saefong


Gold futures rallied Thursday, tacking on nearly 2% to settle at the highest in over six weeks. Gold prices surged "after a wrath of U.S. economic data painted a picture of a prolonged economic recovery that will likely be accompanied with a [Federal Reserve] that will not be abandoning its ultra-accommodative policies anytime soon," said Edward Moya, senior market analyst at Oanda. December gold /zigman2/quotes/210039437/delayed GCZ21 +1.22% rose $31.20, or 1.7%, to settle at $1,835.80 an ounce. That was the highest most-active contract finish since June 16 and largest one-day percentage gain since May 6, FactSet data show.

US : U.S.: Nymex
$ 1,782.10
+21.40 +1.22%
Volume: 694.00
Dec. 3, 2021 4:02p

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