Gold futures on Tuesday closed above $1,523 an ounce for the third time in a row, settling at their highest since May 3.
Gold for June delivery added $7.90, or 0.5%, to finish at $1,523.30 an ounce at the Comex division of the New York Mercantile Exchange.
Silver futures advanced 3.5%, while copper added 0.5%, as concerns about the global economy still persist.
In general, commodities rebounded from the biggest drop in two weeks after Goldman Sachs Group Inc. said it’s turning “more bullish” on raw materials. Goldman, which correctly advised investors to sell crude oil and copper last month before a price slump, raised its 12-month prediction for brent crude to $130 a barrel from $107 and triggered the rally in commodities.
