Gold futures settle slightly lower a day after posting a gain


Gold futures edged lower on Thursday, giving back a small portion of the 2.1% gain prices saw a day earlier. Given that U.S. monetary tightening is not complete and that the Federal Open Market Committee is poised to raise the policy rates by a further this year, “we see gold prices continuing to correct lower,” said analysts at ICICI Bank. They expect gold prices to move down to the $1,600 level by December. Gold for December delivery GCZ22, -0.23% fell $1.40, or nearly 0.1%, to settle at $1,668.60 an ounce on Comex.

This article was originally published by Read the original article here.

Previous articleThis is why Ian will rank among the worst hurricanes in Florida history
Next articleKey Words: Kyrie Irving says he lost $100 million because he decided not to get vaccinated


Please enter your comment!
Please enter your name here