Metals Stocks: Gold edges lower, but remains near a 5-month high [MarketWatch]
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Source: MarketWatch
Gold edges lower, but remains near a 5-month high Gold futures edged lower on Monday, but continued to hold ground near a five-month high after posting a strong rally last week when stock-market turmoil fueled haven-related buying. Gold for February delivery GCG9, -0.03% on Comex was down 90 cents, or less than 0.1%, at $1,251,70 an ounce, while March silver SIH9, -0.24% fell 0.2% to $14.67 an ounce. Read: Silver is primed to take the spotlight from its metal peers Gold notched its highest close since July on Friday as it logged its biggest weekly gain since August, all in the wake of market turmoil that sent stocks reeling and pressured Treasury yields and the U.S. dollar. Gold “losses were limited on expectations that there might be a pause in the [Federal Reserve interest] rate hike cycles in 2019—sooner than expected,” said analysts at ICICI Bank, in a daily market report. The U.S. economy created 155,000 new jobs in November to keep the unemployment rate at a 49-year low
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