Gold Gains For First Time In Five Sessions

By Myra P. SaefongMarketsMarketWatch Pulse

Gold futures settled higher Wednesday for the first time in five sessions, with precious metals getting a boost as the recent rally for U.S. stocks took a pause. Gold for August delivery rose $8.30, or 0.6%, to settle at $1,343.60 an ounce. Prices for the yellow metal continued to gain, tapping highs above $1,344, in electronic trading following the latest Federal Reserve beige book survey of economic conditions. The survey raised questions about the broader health of the U.S. economy in the second half of the year. September silver, meanwhile, settled 24.2 cents, or 1.2%, higher at $20.413 an ounce-a nearly two-year high.

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