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Gold futures rose on Tuesday for a fourth straight session, settling above the $2,000-an-ounce mark for the first time since August 2020. Gold’s surge today and in recent sessions is “not only a reaction to the Ukraine situation, but also a sign that shorts in the futures markets are abandoning their battle to keep the price corralled,” said Brien Lundin, editor of Gold Newsletter. April gold rose $47.40, or 2.4%, to settle at $2,043.30 an ounce after trading as high as $2,078.80. The settlement remained below the record-high finish of $2,069.40 from Aug. 6, 2020.
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