Gold Settles At a More Than Two-week High

By Myra P. SaefongMarketsMarketWatch 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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