Gold futures climbed on Monday, with prices based on the most-active contract settling at their highest since May 6, FactSet data show. The upside momentum for gold has been fueled by Friday’s mixed U.S. jobs report, which “fanned speculation” around the Federal Reserve slowing its rate hikes, said Lukman Otunuga, manager, market analysis at FXTM. “Given how the fundamental drivers are swinging in [favor] of bulls, further upside could be on the cards with the pending U.S. inflation report acting as a potential catalyst.” The December reading of the consumer price index will be released on Thursday. Gold for February delivery GCG23 rose $8.10, or 0.4%, to settle at $1,877.80 an ounce on Comex.
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