Gold futures rallied on Monday to finish at their highest price since mid-August 2020, with the precious metal continuing to find support as a haven investment as the Russia-Ukraine war rages on. “Ongoing concerns about price pressures and Fed policy expectations being dialed back slightly due to geopolitics are both strong tailwinds behind gold here,” analysts at Sevens Report Research, wrote in Monday’s newsletter. April gold rose $29.30, or 1.5%, to settle at $1,995.90 an ounce. That was the highest finish for a most-active contract since Aug. 17, 2020, FactSet data show.
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