Gold futures settled lower on Friday to tally a modest loss for the week. “The price action in gold appears to be based on technical levels rather than a tangible change of sentiment,” said Jameel Ahmad, chief analyst at CompareBroker.io. “For as long as gold can successfully defend $2,000, which was only weeks ago a crucial ceiling of resistance, as support, the outlook for the precious metal remains upbeat.” Gold for June delivery GCM23, -0.24% settled at $2,019.80 an ounce on Comex, down 70 cents, or less than 0.1% for the session, with prices for the most-active contract down nearly 0.3% for the week, according to Dow Jones Market Data.
This article was originally published by Marketwatch.com. Read the original article here.
