Gold futures climbed on Tuesday, but registered their first monthly loss in four months. Market expectations reflect a Federal Reserve reaching a 5.25% to 5.5% target fed funds range by mid-year, but “with inflation continuing to surprise higher, investors are likely seeking some shelter from inflation pressures in the commodity complex, including gold,” said Rob Haworth, senior investment strategist at U.S. Bank Wealth Management. Gold for April delivery GCJ23 rose $11.80, or nearly 0.7%, to settle at $1,836.70 an ounce on Comex. For the month, prices for the most-active contract lost 5.6%, according to Dow Jones Market Data.
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