Gold futures settled lower on Monday for a second straight session, with prices failing to find support despite losses in most global stock markets. Gold “buyers are showing strength every time that the price is getting closer to the support zone of $1,750 per ounce,” said Carlo Alberto De Casa, market analyst at Kinesis Money. However, the rebound to $1,800 last week was “probably too quick and sellers again added pressure on gold.” December gold declined by $2.60, or nearly 0.2%, to settle at $1,765.70 an ounce.
Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit MarketWatch.com for more information on this news.
