Metals Stocks: Gold futures edge higher after weekly loss

Dario Pignatelli/Bloomberg

Gold futures churned modestly higher early Monday, a small corrective move after last week’s focus on a key technical level accounted for a fourth weekly price drop in the last five weeks.

Modest strength in the U.S. stock market and mixed trading for the ICE U.S. dollar index DXY, -0.05% limited gold’s upside on Monday as all eyes turned to this week’s release of Federal Reserve interest-rate meeting minutes. Precious metals tend to draw buying in a low interest-rate climate, while prospects for rising rates make nonyielding gold and silver less attractive to investors who will chase higher yields elsewhere, including in stocks.

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