Gold settles higher as economy and U.S.-China trade stay in focus

Fed’s Powell remains optimistic on U.S. economy

Gold futures rebounded modestly on Tuesday, as investors kept a close eye on consumer confidence and on U.S.-China trade talks.

Gold for December delivery GCZ19, +0.15%  on Comex gained $3.40, or 0.2%, to settle at $1,460.30 an ounce, after opening largely flat, while December silver SIZ19, +0.76%  edged 15 cents higher to $17.04 an ounce.

“The action today is probably rebounding off the recent lows,” said Matthew Pierce, director of research at The Wealth Consulting Group in Las Vegas. “Gold has been finding support around the $1,450-ish level, a couple of times since it eclipsed $1,500 an ounce this fall.”

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Author: Monetary Gold