Gold on Thursday marked its highest settlement in more than three weeks. “Gold prices have rebounded, likely reflecting some safe-haven flows on U.S. stock market weakness and Middle East risks,” said Rob Haworth, senior investment strategist for U.S. Bank Wealth Management. “In our view, the longer term trend is likely to be lower due to [Federal Reserve] rate increases and balance sheet tapering, which should provide a modest lift to real interest rates–a headwind for gold prices.” December gold rose $3.80, or 0.3%, to settle at $1,287.50 an ounce. That was the highest finish since Oct. 16, according to FactSet data.
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