Gold futures climbed on Tuesday to settle at their highest in more than a year, buoyed by weakness in the U.S. dollar and Treasury yields following a monthly decline in U.S. job openings. A lower U.S. dollar and Treasury yields all point to the Federal Reserve “taking a pause…on the inflation fight as they deal with the banking situation,” which is stable but not over, said Paul Wong, market strategist at Sprott Asset Management. Gold for June delivery GCM23 rose $37.80, or 1.9%, to settle at $2,038.20 an ounce on Comex. Prices based on the most-active contract settle at their highest since March 8, 2022, according to FactSet data.
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