Gold Futures Post 11.1% Monthly Gain, Best Since August

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DG365FD46564GFH654FU898 Gold futures finished in positive territory on Tuesday, but finished well off their highs as the U.S. dollar rebounded against a basket of foreign currencies. COMEX gold for April delivery climbed to an intra-day high of $1,750.60 per ounce this morning, but later tumbled to as low as $1,727 as the U.S. Dollar Index rose 0.5% to 79.49. The yellow metal quickly recovered, however, to settle higher by $6.00, or 0.4%, at $1,740.40 per ounce. In doing so, gold futures posted an 11.1% gain in January, their best month since a 12.3% climb in August of last year. Furthermore, the rise marked the yellow metal’s second best month since surging 12.8% in November 2009. Silver futures retreated $0.27, or 0.8%, to $33.26 per ounce on Tuesday.