As of 5:30 PM EDT, gold futures for the most active April 2024 contract were fixed at $2,394.40, up $17.80 or 0.75%. Spot gold also rallied, currently trading at $2,378.76 after gaining $17.69 or 0.75% on the day. The precious metal managed to overcome headwinds from a stronger U.S. dollar, which gained 0.21% to push the dollar index to 105.99.

Gold futures declined today after Chairman Powell spoke about a change regarding interest rate cuts this year saying that the fight to tame inflation has appeared to have stalled. Because of that central bankers need more confidence that inflation was on track to decline to its 2% target.

Gold futures surged higher today, with the most active June contract reaching an intraday peak of $2,414.80 and settling at $2,407.80 in New York trading. As of 5:11 PM EDT, gold futures are trading on Globex at $2,399.50.

As of 7:00 PM EDT, gold futures basis the most active April 2024 contract is trading just above $2400 at $2401.40. This is a net gain of $2.30 on top of the $39 gain from Monday’s trading in New York. Substantial Today’s gains have set a new record high settlement for gold futures. Spot gold also gained $39 taking the price of a troy ounce to 2383.05.

As of 4:46 PM EDT, the most active June contract of gold futures is fixed at $2360.70 down $30.40, or -1.27%%. Gold futures also traded to its highest value of $2448.80 today, the highest value in history. 

The interview with David Lin was recorded yesterday, April 10th.

Today, the U.S. Bureau of Labor Statistics released its most current report on inflationary pressures via the March CPI (Consumer Price Index) report. Concurrently, the Federal Reserve released the minutes from last month's FOMC meeting. Combined, these two reports had a noticeable impact on market sentiment regarding the Federal Reserve's monetary policy moving forward.

As of 5:30 PM EDT, gold futures hit a new record high of $2,384.50 per ounce, with the most active June contract closing up $11.40 at $2,362.40. This marks the eighth consecutive day of significant gains for the precious metal, driven by a trifecta of fundamental forces.

Gold futures basis the most active June 2024 Comex contract as of 6PM ET is trading up $5.60, or 0.24%, and is fixed at $2351. That being said, volatility in gold has returned as seen through today’s expanded trading range. Gold opened at $2342.60, traded to a low of $2321.70, and a high of $2372.50 creating over a $50 range between today’s high and lowest values.

As of 5:30 PM EDT, gold futures basis the most active June contract is once again trading at a new record high of $2349.10. The June contract of Comex gold opened today at $2309.50, traded to a low of $2286.20 and a high of $2350 before settling just $0.90 off today’s intraday high.