Gold futures mark first settlement above $1,900 since January

Gold futures climbed Wednesday to mark their first settlement above the $1,900 mark since January. Gold continues to draw strength from “inflation fears and weaker Treasury yields,” said Lukman Otunuga, senior research analyst at FXTM. “Given how concerns linger over rising inflationary pressures, what better hedge against inflation than gold?” June gold rose $3.20, or 0.2%, to settle at $1,901.20 an ounce. Wednesday’s rise pulled most-active gold futures higher year to date, with prices holding ground at their highest since early January, according to FactSet data.

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