: Gold futures hold below $2,000 an ounce
Gold futures posted a gain on Monday, but held ground below the key $2,000 level after settling below that mark on Friday for the first time this month. “Better than expected economic data, along with more resilient company earnings has prompted a reassessment of the possible timing of when central banks might dial back recent rate increases,” said Michael Hewson, chief market analyst at CMC Market UK. “Gold currently has support at the $1,960 area,” he said. Gold for June delivery GCM23 rose $9.30, or 0.5%, to settle at $1,999.80 an ounce on Comex.
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