Gold futures mark their lowest settlement in more than 9 months
Gold futures declined on Monday, following back-to-back session gains, to settle at their lowest in over nine months. Prices for the precious metal fell as "recession jitters" continue to send the U.S. dollar higher, said Edward Moya, senior market analyst at OANDA. "Inflation is playing tug-of-war with gold and the precious metal is trying to hold the line." August gold fell $10.60, or 0.6%, to settle at $1,731.70 an ounce. Prices based on the most-active contract settled at the lowest since late September 2021, FactSet data show.
Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit MarketWatch.com for more information on this news.