Stock Futures – Gold futures settle at an almost 2-week excessive

Gold futures ended Wednesday at their highest in practically two weeks. “Treasured metals had been supported above all by a weaker U.S. greenback, which fell additional on the again of renewed power for stock markets,” with U.S. benchmark stock indexes
SPX,
+1.39%
climbing to new data amid “ongoing reflation commerce,” mentioned Fawad Razaqzada, market analyst at ThinkMarkets. This pushed international exchange traders into foreign currency, in addition to gold and silver, he mentioned. The ICE U.S. Greenback Index
DXY,
-0.03%
was little modified in Wednesday dealings, however traded decrease for the week to this point. February gold
GCG21,
+0.12%
rose $26.30, or 1.4%, to settle at $1,866.50 an oz. That was the best most-active contract end since Jan. 7, in response to FactSet information.