Gold Futures Finish at Five-Month High

Gold prices rose on Wednesday, restoring its best closing level in about five months, as U.S. Treasury bond yields declined and the U.S. Dollar (USD) erased most of its daily gains.

Despite markets seeing optimism regarding economic recovery, the yellow metal continues to maintain a mostly upward trend especially with the recent surges in inflation rates, maintaining the $1,900 level.

Gold futures for August delivery finished higher by $4.90, or 0.3%, at $1,909.90 per ounce.

This the best closing level for the yellow metal’s most active contract since January 7.

Meanwhile, silver futures for July delivery added 10 cents, or 0.4%, to settle at $28.20 per ounce.