Gold futures post a gain for a 4th week in a row

Gold futures rallied Friday (http://www.marketwatch.com/story/gold-prices-head-lower-set-to-snap-weekly-streak-of- gains-ahead-of-powell-speech-2019-08-23), with China's plan for retaliatory tariffs (http://www.marketwatch.com/story/ china-announces-tariff-hike-on-75-billion-of-us-products-2019-08-23) on U.S. goods helping to boost investor interest in the haven metal. "Gold is likely to be most volatile during FOMC meetings and days (like today) when we receive a barrage of tweets from President [Donald] Trump and headlines concerning global trade," said Matthew Miller, equity analyst at CFRA Research. "The news regarding China's trade retaliation and [Trump's] multiple tweets attacking the Federal Reserve are overshadowing" the Jackson Hole, Wyo., economic policy symposium, he said. December gold climbed by $29.10, or 1.9%, to settle at $1,537.60 on Comex. That was the highest most-active contract settlement since April 2013, according to FactSet data. For the week, prices were up 0.9%, following weekly gains in each of the past three weeks.

-Myra P. Saefong; 415-439-6400; AskNewswires@dowjones.com


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  08-23-19 1411ET
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