Gold Settles At a More Than Two-week High

By Myra P. Saefong Markets MarketWatch Pulse

Gold climbed Monday to settle at its highest level in more two weeks, as downbeat U.S. economic data dulled prospects for further interest-rate increases by the Federal Reserve this year. A reading of New York-area manufacturing released Monday showed a fall in July from a two-year high. That followed data released Friday showing a second-straight monthly drop in retail sales and flat consumer prices in June. August gold rose $6.20, or 0.5%, to settle at $1,233.70 an ounce. That was the highest finish since June 30, according to Factset data.

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