Gold futures end with a modest gain after tapping their highest intraday level in a week

Gold futures end with a modest gain after tapping their highest intraday level in a week


Gold futures was modestly higher on Wednesday, though prices for the most-active contract ended below their highest intraday level in a week. “Gold seems to be finding difficulty in achieving any momentum in either direction,” and prices around the $1,780 level looked like a “magnet” in Wednesday dealings, said Ross Norman, chief executive officer at Metals Daily. “Being early December, markets are quite thin and it does follow that we get moves that are counter-intuitive and this relates to some book-squaring ahead of year end.” February gold
GCG22,
-0.31%

rose 80 cents, or less than 0.1%, to settle at $1,785.50 an ounce, after trading as high as $1,794.30, the highest intraday level for a most-active contract since Dec. 1, FactSet data show.



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