(MARKET WATCH) – Gold futures settled higher Wednesday, halting what had been a string of seven straight losses—the longest such string of declines in two years.
“With optimism regarding a trade deal and Brexit fading, the risk-off mood has waned and has allowed a modicum of support to the precious metals,” analysts at Zaner Precious Metals wrote in a daily note.
April gold GCJ9, +0.23 percent rose $2.90, or 0.2 percent, to settle at $1,287.60 an ounce, rebounding from a 0.2 percent loss a day earlier. Tuesday’s settlement at $1,284.70 marked the lowest since Jan. 24, based on the most-active contract, according to FactSet data. And the drop Tuesday marked seven consecutive losses, the longest stretch of declines since the nine-session fall ended March 10, 2017, according to Dow Jones Market Data.
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