logo
Plus   Neg
Share
Email
Comment

Gold Still In Rally Mode To Start New Year

Gold futures continued to rise in relatively quiet dealing Tuesday, as markets got back to work after the New Year break.

Gold's rally lasted into a sixth day amid speculation the Federal Resserve will leave interest rates on hold in the first quarter of 2018.

Feb. gold settled at $1,316.10/oz, up $6.80, or 0.5%, the highest since September.

Traders will be paying close attention Friday for the Labor Department's December jobs report.

For the first time in years, December was mostly free of terrible weather and an economic lull.

Overseas, the UK manufacturing activity grew strongly at the end of 2017, though the pace of expansion moderated slightly, data published by IHS Markit showed Tuesday.

The IHS Markit/Chartered Institute of Procurement & Supply factory Purchasing Managers' Index fell to 56.3 in December from November's 51-month high of 58.2.

by RTT Staff Writer

For comments and feedback: editorial@rttnews.com

Market Analysis

comments powered by Disqus
Follow RTT