Gold futures settle back under the $1,900 mark
Gold futures declined Wednesday, easing back from the one-week high it settled at a day earlier. "Speculators had bought gold in recent days on the prospects for a blue wave that would have put both the White House and Congress in the control of the Democrats, and therefore grease the skids for more-massive stimulus spending," said Brien Lundin, editor of Gold Newsletter. "The exit of those traders on the likelihood of a divided government," with Democrat Joe Biden in the White House but Republican control of the Senate, is behind the "weakness we're seeing in gold." December gold fell $14.20, or 0.7%, to settle at $1,896.20 an ounce.
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