Metals Stocks: Gold settles at highest in a week as trade standoff contributes to drop in global stock markets [MarketWatch]
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Source: MarketWatch
Gold settles at highest in a week as trade standoff contributes to drop in global stock markets Gold futures logged their highest finish in a week Thursday, buoyed by declines in global stock markets brought on by expectations for a prolonged U.S.-China trade standoff. The metal also found support following Federal Reserve meeting minutes out a day earlier that revealed a panel seemingly comfortable with its patient stance on interest rates. June gold GCM19, +0.71% on Comex added $11.20, or 0.9%, to settle at $1,285.40 an ounce, on for the highest most-active contract settlement since May 16, according to FactSet data. Prices ended higher Wednesday and boosted that gain in the after-hours, when the Fed minutes were released. The moves follow Tuesday’s finish at the lowest most-active contract settlement since May 2. “I think gold is set up nicely right now for a real, no kidding rebound towards $1,300,” Jeff Wright, executive vice president of GoldMining Inc., told MarketWatch. Gol
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