Gary S. Wagner

Tuesday was another session that illustrated a deepening divide in the gold market — one between traders operating in the futures pits and those transacting in the spot market. Gold futures declined a modest $4.00 on the day, settling at $4,506 per troy ounce, a fractional move that barely registered as a blip on the charts. Spot gold, however, told a far more turbulent story, shedding $62.74 or 1.37% in a sell-off that stood in stark contrast to the relative calm seen in futures.

(Kitco Commentary) - Gold climbed back above $4,530 per ounce on Wednesday, halting a slide that had driven prices to a two-month low of $4,490 the prior session, as easing tensions in the Middle East offered investors a reason to revisit their most hawkish assumptions about the path of U.S. monetary policy.