Gold settles with a gain for the session and shorter week

Gold futures climbed on Thursday, also posting a gain for the holiday-shortened week, as concerns over the increase in COVID-19 cases in part of the world provided safe-haven support for the metal. Some of that support lacked in the U.S., where data showed better-than-expected jobs growth in June. "The employment numbers are spectacular but an 11% unemployment rate is still elevated," said Jeff Wright, executive vice president of GoldMining Inc. "COVID cases are back on rise and numerous states have slowed down reopen plans." August gold GCQ20, -0.18% rose $10.10, or 0.6%, to settle at $1,790 an ounce. There will be no regular trading for gold futures Friday, which marks the Independence Day holiday. Based on the most-active contract, prices were up about 0.5% from last Friday's settlement.

 

Myra P. Saefong

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