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Metals Stocks: Gold prices settle at nearly two-week peak

Gold futures edged higher on Monday, settling at their highest in almost two weeks as prices extended recent gains scored on the back of expectations for a U.S. Federal Reserve interest-rate cut at the end of the month.

Gold for August delivery on Comex GCQ19, +0.14% added $1.30, or about 0.1%, to settle at $1,413.50 an ounce. That’s the highest most-active contract settlement since July 3, which saw a finish at $1,420.90—the highest since May 2013, FactSet data show. September silver SIU19, +0.91% also rose 12.9 cents, or 0.9% to $15.365 an ounce.

“The gold price is still trading near the highest level in nearly six years and I do not think that the trend isn’t going to change anytime soon because the Fed has once again adopted the loose monetary policy,” said Naeem Aslam, chief market analyst at TF Global Markets.

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