Gold futures climbed on Wednesday to post a fifth session gain in a row. The precious metal “remains supported on the view that the days of [interest] rate hikes are numbered, but given the impressive gains over [the] past two and a half months, some would argue that much of the positive news is now priced in,” said Fawad Razaqzada, market analyst at City Index and FOREX.com. However, gold has found support around $1,920, a level which had served as resistance in the past, he said, and “for as long as it doesn’t break the structure of higher lows and higher highs, the path of least resistance remains to the upside and a run towards $2,000 cannot be ruled out.” Gold for February delivery GCG23 rose $7.20, or 0.4%, to settle at $1,942.60 an ounce on Comex, the highest most-active contract settlement since April. Gold futures posted their fifth session climb in a row, the longest streak of gains since August, according to Dow Jones Market Data.
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