Skip to main content

MoneyWorks4Me

Gold futures settle higher for fifth straight session on surge in inflation

11 Feb 2022 Evaluate
Extending winning streak to fifth straight session, Gold futures settled higher on Thursday, as the hedge appeal of the bullion got spurred not only on the higher than expected US inflation rates, but also on growing geopolitical tensions in Ukraine. Additionally, slide of dollar to one-week low level also buoyed the yellow metal buying.

Gold futures for April climbed by 0.1% or $0.8 to settle at $1,837.40 ounce on the Comex division of the New York Mercantile. Spot gold up by 0.2% to $1,835.71 per ounce.