Gold futures settled with a loss on Thursday, easing back after posting gains over three consecutive trading sessions. “After struggling to digest last year’s steep [interest] rate hikes, financial markets are having to re-price a more hawkish outlook again for 2023,” said Adrian Ash, director of research at BullionVault. Still, gold futures have held onto a gain for the week. The fact that the precious metal is holding firm, even as exchange-traded funds see small net outflows, “suggests central-bank demand has returned after the New Year price jump,” he said. “It also highlights solid consumer demand, most especially from China.” Gold for April delivery GCJ23 fell $4.90, or 0.3%, to settle at $1,840.50 an ounce on Comex.
Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit MarketWatch.com for more information on this news.