Gold futures climbed Monday to settle at their highest since early January. Prices for the precious metal have climbed as “the combination of rising U.S. breakeven inflation rates and falling U.S. real yields have worked to reduce the opportunity cost of holding non-interest bearing physical asset such as gold,” analysts at ICICI Bank wrote in a research report. June gold rose $7.80, or 0.4%, to settle at $1,884.50 an ounce. That was the highest most-active contract settlement since Jan. 7, according to FactSet data.

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