Gold scores best monthly gain in a year

Gold futures edged higher on Friday to finish with their best monthly gain in a year, as losses in January for most stock markets around the globe lured investors to the perceived safety of the precious metal.

But the outlook for gold was uncertain after the Bank of Japan’s decision Friday to adopt negative interest rates, considered acknowledgment of broad worries about a global economic slowdown, fueled a rally in the U.S. dollar.

April gold GCJ6, +0.45% climbed by 30 cents to settle at $1,116.40 an ounce. Prices, based on the most-active contracts, rose by roughly 5.3% for the month of January, representing its best monthly gain since January 2015, according to FactSet data. For the week, gold gained 1.8%.

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