Gold futures end at highest since August

Gold futures climbed on Monday to hold ground at their highest finish since August. Judging by the action in gold, U.S. traders are “increasingly expressing their domestic doubts about the American economy by betting on bullion,” said Adrian Ash, director of research at BullionVault. “Last week’s break of gold’s 2022 downtrend, plus the surge back through what had been failed support around $1,680, makes the technical picture look very supportive” for the precious metal. Gold for December delivery
GCZ22,
+0.39%
rose $7.50, or 0.4%, to settle at $1,776.90 an ounce on Comex, the highest most-active contract finish since Aug. 16, according to FactSet data.