Gold Price Crawls To Highest Since February 28, Fed's Lacker Quits In Shame

New York (April 4)  Gold futures continued to rise Tuesday, as a hawkish member of the Federal Reserve abruptly quit the central bank. Richmond Fed President Jeffrey Lacker abruptly quit Tuesday, admitting that he was the person who leaked sensitive information regarding the Fed's quantitative easing program.

In 2012, Medley Global Advisors reported on certain aspects of QE3 that were not yet public.

Gold for June delivery settled up USD4.40, or 0.4%, at USD1,258.40 an ounce, it highest settlement since February 27. Silver for May delivery were up 11.1 cents, or 0.6%, at USD18.32 an ounce, its highest settlement since March 1.

Traders expressed risk aversion ahead of earnings season and Friday's March jobs report.

There was also uncertainty about the upcoming meeting between President Donald Trump and Chinese President Xi Jinping.

Source: AllianceNews