Gold futures score back-to-back session gains


Gold futures rose Wednesday for a second straight session, finding support as U.S. benchmark stock indexes traded mostly lower and the dollar weakened. “Investors seem to be gravitating towards gold as rising omicron variant cases accelerate the flight to safety,” said Lukman Otunuga, manager, market analysis, at FXTM. How gold concludes the first trading week of 2022, however, will be influenced by not only the FOMC meeting minutes due out at 2 p.m. Eastern time, but by the key U.S jobs data on Friday, he said. “If these reports reinforce expectations over the Federal Reserve raising interest rates three times this year, this could send zero-yielding gold lower.” February gold GCG22, -1.12% rose $10.50, or 0.6%, to settle at $1,825.10 an ounce.

Source: Marketwatch

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