Gold futures retreat, finish back below the $1,900 mark

Gold futures fell on Thursday, easing back from a climb a day earlier that lifted prices to a nearly five-month high, to push prices back under the $1,900-an-ounce level. “The story for gold remains that it’s not getting sold off hard after a big run. It remains firm,” said Peter Spina, president and chief executive officer at GoldSeek.com. “Sell-offs continue to find firm support” from buying interest. If gold drops much more into the $1,800s from here, Spina said “you are getting an opportunity to get positioned.” August gold fell $5.30, or 0.3%, to settle at $1,898.50 an ounce. Most-active contract prices had settled above what analysts referred to as key resistance at $1,900 on Wednesday, for the first time since early January.

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