Geopolitical concerns, particularly in Ukraine, as well as expectations for weak economic data have also contributed to gold’s recent strength. Prices for the most-active contract have risen in 13 out of the previous 15 sessions.
On Tuesday, gold for April delivery tacked on $4.70, or 0.4%, to settle at $1,342.70 an ounce on the Comex division of the New York Mercantile Exchange, its highest close since the day before Halloween, according to FactSet data. Prices reversed modest losses that had them trading around $1,337.50 shortly before the consumer-sentiment report. A day earlier, gold jumped more than 1% to settle at $1,338 an ounce.
March silver settled down nearly 9 cents, or 0.4%, to $21.96 an ounce after Monday’s 1.2% gain.