Gold futures moved modestly higher on Thursday, holding ground below $2,000 an ounce to finish below that level for a fourth time in five sessions. Peter Grant, vice president and senior metals strategist at Zaner Metals, said he expects gold’s “corrective to consolidative bias to prevail ahead of next week’s FOMC policy decision, but with the downside being limited by banking sector worries.” Gold for June delivery GCM23 rose $3, or nearly 0.2%, to settle at $1,999 an ounce on Comex.
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