Gold futures settle lower after 5-session climb

Gold futures settled lower on Thursday, easing back after posting gains in each of the past five trading sessions, but still finishing 1.5% higher for the week, Fact Set data show. Tailwinds for gold “in the form of high inflation are, of course, covered, but what is most encouraging is institutional investing in North America through the [exchange-traded funds] has been off the scale,” said Ross Norman, chief executive officer at Metals Daily. June gold fell $9.80, or 0.5%, to settle at $1,974.90 an ounce. Prices on Wednesday ended at the highest since March 11.

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