Gold futures climb to highest settlement in a week

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Gold futures climbed on Wednesday to their highest settlement in a week as traders awaited Federal Reserve Chairman Jerome Powell’s speech Thursday at the Jackson Hole, Wyo. economic summit. He’s “expected to announce the Fed’s new, more-lenient approach towards inflation,” said Brien Lundin, editor of Gold Newsletter. This would be “a very bullish factor for gold over the long term.” December gold rose $29.40, or 1.5%, to settle at $1,952.50 an ounce. That was the highest finish for a most-active contract since Aug. 19, FactSet data show.
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