Gold buoyant, even as dollar perks up and Fed taper timetable crystallizes

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Gold futures on Monday were swinging between modest gains and losses to start the week, as investors struggled to parse market developments, including a perkier dollar and reports of the Federal Reserve moving toward a concrete plan to unwind some aspects of COVID-era easy-money policies.

Contracts for gold saw a leg higher after data from the New York state region, the Empire State factory index, plunged to 18.3 in August from 43 in the prior month.

At last check, December gold
GCZ21,
+0.10%

was up $3.40, or 0.2%, at $1,781.50 an ounce, trading at its highest level since early August, following a nearly 0.9% weekly gain put in for the most-active contract on Friday. The yellow metal touched an intrasession high at around $1,784.40 and a low of $1,772, FactSet data show.

Bullion had been under pressure against the backdrop of political unrest in the Middle East, including the takeover of…

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