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Metals Stocks: Gold jumps toward 14-month high as investors bet on dovish central banks

Gold prices on Tuesday were on track to settle at a four-month high, after briefly tapping their highest intraday level in more than a year, as comments made in Portugal by European Central Bank President Mario Draghi ahead of a meeting of the Federal Reserve was seen as setting the stage for lower interest rates.

August gold GCQ19, +0.56% jumped $3.20, or 0.2%, to $1,346.10 an ounce, poised for the highest most-active contract settlement since Feb. 20, when prices finished at $1,347.90, according to FactSet data. It traded as high as $1,358.50, the highest intraday level since April 2018.

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