Economics
Gold Snaps Back to Bull Market as Prices Surge on Haven Demand
- Metal's 2016 advance is biggest among commodity markets
- Open interest signals investors expect sustained rally
Evercore's Altman on the Price of Gold
This article is for subscribers only.
Gold cruised to a bull market, heedless of rebounding stock markets, as traders expect central banks to curb yields on other investments in an effort to spur economic growth.
The metal has climbed more than 20 percent from a December low, the common definition of a bull market. Gold futures advanced 1 percent to settle at $1,270.70 an ounce at 1:43 p.m. on Comex in New York. Prices rose after a U.S. report Friday showed average hourly earnings posted the first monthly drop in more than a year, even as employers added more workers in February than projected.