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May 17, 2021, 1:51 p.m. EDT

Gold prices climb to highest finish since January

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By Myra P. Saefong

Gold futures on Monday posted their strongest daily gain in more than week to mark the highest settlement since January. Prices finished higher on the back of weakness in the U.S. dollar as well as losses in the U.S. benchmark stock indexes. Also providing support, Federal Reserve Vice Chairman Richard Clarida said Monday that the U.S. economy hasn't hit the benchmark of "substantial further progress" needed for the Federal Reserve to scale back asset purchases. June gold climbed $29.50, or 1.6%, to settle at $1,867.60 an ounce, with prices for the most-active contract at their highest since Jan. 7, according to FactSet data.

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