gold silver and copper futures all climb by more than 1 gold futures moved higher wednesday giving up early losses as the us dollar eased back from its highest level in 20 years and nervous traders lifted haven buying of the metal ahead of the months end gold prices headed higher wednesday on safehaven buying amid a very nervous marketplace as the calendar is set to turn to what can be a tumultuous month of october for stock and financial markets said jim wyckoff senior analyst at kitcocom in daily commentary traders and investors are keeping a very close eye on the currency markets he said though gold prices did drop to a nearly twoandahalfyear low overnight gold currently trades nearly unchanged for the week but prices are on track to post losses for the month as well as the quarter precious metals analysts have largely blamed rising bond yields and the rampaging us dollar for diminishing golds allure as a haven asset as both yields and the dollar continue to climb the next support level for the yellow metal is likely around 1600 per ounce a level it hasnt seen since february 2020 the ice us dollar index  a gauge of the dollars strength against a basket of rivals was down 03 to 11370 but holding onto gains for the week month and quarter gold continues to get kicked around by the dollar said adrian ash director of research at bullionvault however wednesdays rebound for gold highlights just how almighty the us currency has become this month he told marketwatch gold reversed this weeks drop for far in the dollar on wednesday but hit threeweek highs in euro terms he said ash said golds rebound also follows a sharp retreat in bond yields driven by the bank of england suddenly joining a raft of asian central banks in intervening in the markets the fact that majoreconomy policymakers are trying to stem and reverse market action shows how worried they are about an uncontrolled crash he said gold is finding a decent bid amid all this uncertainty