ProShares Ultra Gold

UGL

Market cap $907M

Gold edged higher in early Asian trading. Sentiment was likely supported by U.S. payroll data, which added to concerns about the weakness in labor markets.

Copper, gold and silver prices have climbed steadily this year as investors hedge against political instability and dollar weakness, and tightening supplies across major metals have added momentum to one of the strongest haven rallies in recent years, reports say.

Gold posted another quiet, low-volatility session Wednesday with a tight $4,195–$4,241 range and no decisive move above Tuesday's $4,236 high, leaving the minor pullback unresolved despite a bullish hammer forming at the rising 10-day average support.

Neils Christensen has a diploma in journalism from Lethbridge College and has more than a decade of reporting experience working for news organizations throughout Canada. His experiences include covering territorial and federal politics in Nunavut, Canada.

The weak ADP Employment Change report provides support to gold markets.

Ernest Hoffman is a Crypto and Market Reporter for Kitco News. He has over 15 years of experience as a writer, editor, broadcaster and producer for media, educational and cultural organizations.

Jim Wyckoff has spent over 25 years involved with the stock, financial and commodity markets. He was a financial journalist with the FWN newswire service for many years, including stints as a reporter on the rough-and-tumble commodity futures trading floors in Chicago and New York.

Ernest Hoffman is a Crypto and Market Reporter for Kitco News. He has over 15 years of experience as a writer, editor, broadcaster and producer for media, educational and cultural organizations.

Gold trades with continued choppiness but maintains a bullish tone as it pushes back toward the $4,400 level. The analyst highlights steady support from central bank buying and notes that pullbacks remain attractive while awaiting next week's Federal Reserve decision.

The spot price for a troy ounce of gold is up nearly 60% from a year ago, and some experts expect it to climb higher next year. If you want exposure to gold, there are exchange-traded funds that provide differing ways to get it, but those differences also may come with unexpected tax treatment.