Gold futures settle with a modest loss, holding above the $1,900 mark

Gold futures finished with a modest loss on Tuesday, holding ground above the key $1,900 mark. “Gold’s price action is poised for a consolidation pattern leading up to…Friday’s nonfarm payroll report,” said Edward Moya, senior market analyst at Oanda. “A blockbuster employment report is the key for the reflation trade which would also be the catalyst for rising Treasury yields,” he said, adding that for now, $1,880 looks to offer key support, with $1,940 as resistance for prices. August gold fell 30 cents, or 0.02%, to settle at $1,905 an ounce. Most-active contract prices on Friday, which was the last regular trading day before Monday’s holiday, marked their highest settlement since Jan. 7, according to Dow Jones Market Data.

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