December gold futures contracts closed 3.11% higher Friday, turning in the strongest one-day advance since Dec. 2022, and rising above their 50- and 200-day moving averages for the first since Sept. 20. Gold's weekly 5.22% gain was the most since mid-March, and left the precious metal 6.31% higher on the year. The VanEck Gold Miners ETF jumped 4.36% Friday, while the VanEck Junior Gold Miners ETF climbed 5.12%.
In energy markets, West Texas Intermediate and Brent crude oil both turned in their best days since April 3, with November WTI futures surging 5.77% to $87.69 a barrel and December Brent climbing 5.69% to $90.89/bbl. The national average for a gallon of gasoline dropped to $3.628, down 12 cents from a week ago and 22 cents from a month ago, the American Automobile Association said. Among soft commodities, orange juice closed at a record, with November futures rising 0.17% to $3.
Finance Finance Latest News, Finance Finance Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Markets Week Ahead: Gold, Crude Oil, Geopolitical Tensions, US Dollar, Fed, China GDPGold prices soared in the best week since the middle of March, crude oil also outperformed amid geopolitical volatility. Ahead, all eyes are on a speech from Jerome Powell and Chinese GDP data. What else is in store for markets ahead?
Source: DailyFX - 🏆 305. / 63 Read more »
Source: Reuters - 🏆 2. / 97 Read more »
Source: FXStreetNews - 🏆 14. / 72 Read more »
Source: Reuters - 🏆 2. / 97 Read more »