Skip to main content

MoneyWorks4Me

Gold futures finish near one month high level on Wednesday

14 Oct 2021 Evaluate
Gold futures finished near one month high level on Wednesday, whetted by the safe haven appeal of the bullion with the weakness in the dollar and US Treasury bond yield notes. The easing bond yield notes reduced opportunity cost of non-yielding bullion, attracting more investors to the yellow metal and the weakness in dollar made the greenback denominated precious metal cheaper for third currency holders. 

Gold futures for December surged by 2% to settle at $1,794.70 an ounce on the Comex division of the New York Mercantile. While, spot gold was up 1.8% at $1,791.41 per ounce.