: Gold futures settle at lowest in more than a week
Gold futures ended sharply lower on Wednesday, with prices at their lowest in more than a week. Given how the market has have entered the blackout period for Federal Reserve speakers ahead of next week’s monetary policy meeting, and the rest of the week is light on U.S. data, “the precious metal could remain trapped in a range,” said Lukman Otunuga, manager, market analysis at FXTM. Gold for August delivery GCQ23 declined by $23.10, or 1.2%, to settle at $1,958.40 an ounce on Comex, the lowest most-active contract finish since May 30, FactSet data show.
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