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Gold Futures Settle Modestly Higher For The Day, But Sheds Over 7% In Month

Gold Futures Settle Modestly Higher For The Day, But Sheds Over 7% In Month Gold futures settled higher on Wednesday, recovering from early weakness more due to bargain buying. However, the upside was limited due to a stronger dollar. Despite continued optimism about strong U.S. economic recovery, sentiment in the market was somewhat cautious due to the surge in Delta variant of the Coronavirus in several Asian and European countries and lockdown measures in many places across the world. The dollar index advanced to 92.41, gaining about 0.4%. Gold futures for August ended up by $8.00 or about 0.5% at $1,771.60 an ounce. Gold futures gained about 0.5% in the June quarter, but lost over 7% in June. In the first half of 2021, gold futures shed 6.6%.

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