Gold futures settled with a gain on Tuesday to recoup some of their losses from back-to-tack session declines. As the tensions in the banking sector “have come off, so has the gold price,” said said Rhona O’Connell, head of market analysis, EMEA & Asia, at StoneX. However, “we believe that markets’ actions of the past couple of weeks have served to remind the financial fraternity of gold’s role as a hedge against risk and as a source of liquidity.” Gold for April delivery GCJ23 rose $19.70 or 1%, to settle at $1,973.50 an ounce on Comex.
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