Gold futures rose for the fourth straight session as the dollar’s longest slump in seven weeks boosted demand for the metal as an alternative investment.
Gold futures rose, snapping the longest slump in almost nine months, after U.S. equities dropped for the first time in four sessions.
Silver posted the longest rally in at least 45 years on demand for an investment alternative amid concerns that the global economy will falter.
Gold futures climbed to the highest settlement price in five weeks as a slumping dollar boosted the appeal of the precious metal as an alternative asset.
Copper futures rose to the highest in almost six weeks on speculation that central banks will maintain policies aimed at boosting economic growth.
Gold futures fell the most in 13 weeks after the outlook for higher U.S. interest rates damped demand for the precious metal as a store of value. Palladium rose to a 31-month high on supply concerns.
Gold fell to the lowest in more than a month on speculation that physical demand will slow during this week’s Lunar New Year holiday in Asia.
Gold declined from a six-month after U.S. industrial production increased more than expected, curbing demand for the metal as an alternative investment.
Gold rose to a one-week high in London after the Federal Reserve maintained the pace of U.S. bond purchases, boosting demand for the metal as a store of value. Silver and palladium advanced.
"The dollar is still reacting to the dovish Fed statement, and that is supporting gold."
- David Meger on Jun 23, 2014
Meger of Vision Financial Says Fed Boosting Gold