Gold futures mark a third loss in 4 sessions
Gold futures ended Wednesday with a loss, their third in four sessions. Traders looked to book profits as gold futures failed to trade over the $1,990 resistance level, said Chintan Karnani, director of research at Insignia Consultants. However, sentiment is "very bullish" for gold, he said. Traders are "worried over the prospects of more banks getting a rescue," and focused on the chances for a recession and a pause period in Federal Reserve interest-rate hikes. Gold for June delivery fell $5.90, or 0.3%, to settle at $1,984.50 an ounce on Comex.
-Myra P. Saefong
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March 29, 2023 13:47 ET (17:47 GMT)
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