Gold futures log lowest finish in month
Gold futures fell on Monday (http://www.marketwatch.com/story/gold-futures-skid-1-4-as-investors-wrestle-with-inflation-outlook-11623675037) to mark their lowest settlement in a month. "Gold had a nice run recently, but has started to back away from $1,900 in what I think is common after becoming overbought and meeting technical resistance," said Colin Cieszynski, chief market strategist at SIA Wealth Management. "Over the past few months, on a day to day basis, we have seen alternative currency capital swinging back and forth between precious metals and cryptocurrencies," he said, adding that Monday's rebound in bitcoin may be "siphoning away some demand from gold and silver." August gold fell $13.70, or 0.7%, to settle at $1,865.90 an ounce, the lowest most-active contract finish since May 14, FactSet data show.
-Myra P. Saefong; 415-439-6400; AskNewswires@dowjones.com
(END) Dow Jones Newswires
June 14, 2021 17:48 ET (21:48 GMT)
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