Gold futures score a 5th straight session gain

gold-futures-score-a-5th-straight-session-gain

Gold futures climbed Wednesday, stretching their streak of gains to a fifth consecutive session. Most of the gains for the metal came after the U.K. posted “higher than expected and accelerating” inflation numbers, said Colin Cieszynski, chief market strategist at SIA Wealth Management. Gold continued to rise after U.S. data showed wholesale prices over the past year have climbed by 11.2%. At this point, all of the related economic disruptions that have caused inflation to spike — war, lockdowns, supply chain snarls — appear to be having a bigger impact than interest rate hikes, said Cieszynski. June gold GCM22, +0.35% rose $8.60, or 0.4%, to settle at $1,984.70 an ounce, the highest most-active contract finish since March 11, FactSet data show.

Source: Marketwatch

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