Gold futures post biggest monthly gain in 3 years

New York (June 29)  Gold futures edged higher Friday, posting a monthly climb of nearly 8%--their biggest since June 2016. "Gold has surged over the past month as the [U.S. Federal Reserve's] amazing turn from hawks at the beginning of the year to doves today has finally shifted investor expectations," said Brien Lundin, editor of Gold Newsletter. "Investors have finally realized that we'll have ultra-low to negative real rates for long into the future, which is an extremely bullish tailwind for gold." August gold GCQ19, -0.08% rose $1.70, or 0.1%, to settle at $1,413.70 on Comex. Most-active contract prices rose 1% for the week and finished the month with a 7.7% gain, according to FactSet data.

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