Gold Prices Settle Shy of Record High as Dollar Slide Boosts Metal

A drop in the U.S. dollar and Treasury yields lifted the yellow metal.

A worker polishes gold bullion bars at the ABC Refinery in Sydney on Aug. 5, 2020. David Gray/AFP via Getty Images

Gold prices registered their fourth consecutive weekly gain, ending the Jan. 24 trading session shy of the all-time high recorded in October.

February gold futures rose $12.30, or 0.44 percent, to $2,777.30 per ounce on the COMEX division of the New York Mercantile Exchange. The precious metal posted a weekly boost of 1.36 percent, adding to this month’s rise of more than 5 percent.