Gold Steadies After Futures Jump to $2,000 for the First Time

Gold steadied as investors paused after a record-breaking rally that saw futures touch $2,000 an ounce for the first time.

Futures and spot prices backed off from the wide swings that shook the market earlier as traders assessed the outlook for a host of drivers including Federal Reserve policy, with the central bank meeting this week. A slumping dollar, the economic turmoil unleashed by the coronavirus pandemic and expectations for more stimulus have pushed Comex prices up 29% this year.