Gold Futures Settle Above $1,200 An Ounce

Gold futures rallied Thursday to their highest level in nearly a month. Prices for the metal got a boost as the U.S. dollar weakened because "investors are now of the belief that the Federal Reserve will take a long pause after the maximum of two interest-rate hikes," said Chintan Karnani, chief market analyst at Insignia Consultants. Now gold will need to trade over $1,200 at least until Monday to attract short-term buyers, he said. August gold jumped $25.20, or 2.1%, to settle at $1,202 an ounce.