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: Gold futures log their first monthly gain since March

Gold futures finished a bit lower on Wednesday as Federal Reserve Chairman Jerome Powell spoke at the Brookings Institution, but prices ended the month with their first monthly gain since March. Silver also posted a rise for the month, its largest monthly percentage rise since December 2020. “A weaker U.S. dollar and falling 10-year Treasury rates…will continue to support gold and silver prices,” said Jeff Klearman, portfolio manager at GraniteShares, which runs the GraniteShares Gold Trust BAR. In turn, the dollar and 10-year rate levels will be “directed by inflation and economic strength or weakness exhibited in the U.S. and globally.” Gold for February delivery GCG23 fell $3.80, or 0.2%, to settle at $1,759.90 an ounce on Comex. Based on the most-active contracts, prices ended 7.3% higher for the month, their first monthly rise in eight months, according to Dow Jones Market Data.

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