Gold futures settle at their highest price in almost 2 weeks

Gold futures settled at their highest price in nearly two weeks on Wednesday, as the U.S. dollar index and Treasury yields continued to weaken. A weaker dollar has been “good news for bullion investors, but gains should be capped well ahead of the $1,700 level” for gold, said Edward Moya, senior market analyst at OANDA. “Treasury yields have been steadily declining and that has helped make non-interest bearing gold look more attractive.” Gold for December delivery GCZ22, +0.66% rose $11.20, or 0.7%, to settle at $1,669.20 an ounce on Comex, the highest most-active contract finish since Oct. 13, FactSet data show.