Gold futures ended Wednesday at their highest in nearly a week, up a third straight session. Prices for the precious metal “have continued to edge off the lows we saw at the end of last week as a slightly softer U.S. dollar prompts a squeeze back towards the $1,895 area,” said Michael Hewson, chief market analyst at CMC Markets UK. The continued references to disinflation by Federal Reserve policymakers are “helping to create this squeeze,” he said. “However, evidence that inflation may not come down as quickly as expected could act to limit the upside in this rebound.” Gold for April delivery GCJ23 rose $5.90, or 0.3%, to settle at $1,890.70 an ounce on Comex, the highest most-active contract finish since Feb. 2, FactSet data show.
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