Gold futures settle higher, but suffer biggest quarterly loss in over 4 years
Gold futures settled higher Wednesday to recover from losses a day earlier that dragged prices to a more than three-week low. The metal gained on Wednesday in what appeared to be quarter-end short covering, said Chintan Karnani, chief market analyst at Insignia Consultants. Prices based on the most-active contracts for the metal, however, registered a loss of nearly 10% for the quarter, the largest since the fourth quarter of 2016, FactSet data show. April gold rose $29.90, or 1.8%, to settle at $1,713.80 an ounce for the session.
Gold prospects settled higher Wednesday to recuperate from misfortunes daily prior that hauled costs to an over three-week low. The metal acquired on Wednesday in what gave off an impression of being quarter-end short covering, said Chintan Karnani, boss market investigator at Insignia Consultants. Costs dependent on the most-dynamic agreements for the metal, nonetheless, enlisted a deficiency of almost 10% for the quarter, the biggest since the final quarter of 2016, FactSet information show. April gold rose $29.90, or 1.8%, to settle at $1,713.80 an ounce for the meeting.