Gold up a third session to settle at 1-week high

ArticleCurrencyApril 11, 2018 - 7:22:54 AM

Gold futures marked a third straight session of gains on Tuesday, buoyed by a weaker U.S. dollar and uncertainty surrounding U.S. reaction to a possible chemical-weapons attack in Syria.

Prices for the precious metal climbed even as global investors piled back into riskier assets, such as U.S. stocks, after comments out of China soothed trade-war fears.

“The weaker U.S. dollar, which is softer after news from China on lowering trade tariff tensions, is leading to a slight uptick in gold,” said Jeff Wright, chief investment officer at Wolfpack Capital.

“Inflation numbers, [with] PPI a little higher than anticipated, have dented momentum but not turned gold negative,” he said. Wholesale-level inflation edged higher for a third month in a row, a reading that likely keeps modest interest-rate tightening by the Federal Reserve in the cards for 2018...

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