Gold futures up 5 session in a row, longest streak of gains since November

Gold futures ended higher on Thursday, stretching their streak of gains to a fifth session in a row – the longest run of consecutive gains since November. The rise for the metal came in the wake of data showing the U.S. consumer price index rose by a more than expected 0.6% in January to 7.5%, a 40-year high. Gold’s rise “underscores its status as safe-haven commodity, and an effective inflation hedge,” said Fawad Razaqzada, market analyst at ThinkMarkets. April gold
GCJ22,
-0.50%
rose 80 cents, or less than 0.1%, to settle at $1,837.40 an ounce. Based on the most-active contract, prices logged their highest settlement since Jan. 25, FactSet data show.