: Gold futures finish higher after a two-session decline
Gold futures finished Thursday with a gain, after posting declines in each of the last two trading sessions. Federal Reserve Chairman Jerome Powell’s testimony to Congress raised the possibility for a more aggressive pace of interest-rate hikes, providing overall support to the dollar this week. “For gold to make a stronger recovery, we will have to see a surprise miss” on Friday’s U.S. nonfarm payrolls report, said Fawad Razaqzada, market analyst at City Index and FOREX.com. “If that happens, it could support stocks, gold and bonds as traders question the likelihood of such an aggressive hike.” Gold for April delivery GCJ23 rose $16, or 0.9%, to settle at $1,834.60 an ounce on Comex.
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