Wall Street ends another positive week in disorganized order
December 27, 2023
Futures Lose Ground on Easing Red Sea Worries
December 28, 2023Gold climbs to record highs, with futures recently up 1.1% to $2,091.80 an ounce. A weaker dollar is helping prop gold up, says Peter Cardillo of Spartan Capital Securities. “Gold prices are surging this morning as the dollar and falling yields pave the way for gold to close the year near its 52-week high,” Cardillo says. “Besides the above reasons, there is another factor that the market is flashing, which is the expansion of the war between Israel and Gaza.” Cardillo adds that these factors are expected to keep pushing prices higher going into the new year. Gold set a record close on Dec. 1 of $2,089.70 an ounce.
