Gold futures are trading well above $1,300 as the US dollar weakened and investors dive into the
February gold futures rose $4.10, or 0.31%, to $1,313.30 per ounce at 16:37 GMT on Tuesday. Gold prices are exceeding their 100-day moving average and are on track to settle at their highest levels since the end of September.
Silver, the sister commodity to gold, is posting modest gains to kick off the trading week and 2018. March silver futures jumped $0.03, or 0.20%, to $17.18 an ounce. The white metal finished the year with a 7% boost.
Precious metals are benefiting from a weaker US dollar as the greenback shed 0.44% on Tuesday. The US dollar is poised for the fifth consecutive loss and is trading at its worst levels in three months. A weaker greenback is a boon for
Geopolitical events, like the
Despite the Federal Reserve projecting three increases to interest rates in 2018, which would negatively impact the yellow metal, gold prices are starting off the year on a high note. The US central bank raised rates three times last year, a trend that could not propel the US dollar to
Copper, which had a tremendous 2017 with a 30% bump, is bleeding red ink. March copper futures tumbled $0.02, or 0.76%, to $3.27 per pound.
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