Gold settles modestly higher to kick off August; Silver ends at 2-year high

Gold futures logged a modest gain Monday as weaker-than-expected economic data were read by some investors as being tepid enough to give the Federal Reserve pause in raising benchmark interest rates as early as its next policy meeting in September. Lower rates for longer tend to be supportive for gold prices. December gold picked up $2.10, or 0.2%, to settle at $1,359.60 an ounce. Meanwhile, silver futures for September delivery booked their best settlement since July 2014, FactSet data show.

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