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Gold Near Highest Level in Four Months

M. Ali 19 May, 2021 8:06 pm Commodities, Market Update

Gold prices rose on Wednesday, recovering from earlier losses on the back of a decline in the U.S. Dollar (USD) nearing its fifth consecutive daily rise.

The yellow metal futures remain near their highest level in about four months ahead of the release of the U.S. Federal Reserve’s April meeting minutes, due later today.

Gold futures for June delivery gained $16.90, or 0.9%, to reach $1,884.90 per ounce.

Earlier, the yellow metal most active contract was trading above $1,891 an ounce.

It is worth noting that on Tuesday gold futures settled marginally higher but at their best level since January 7.

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