Gold News & Info

Source: Marketwatch

San Francisco— Gold futures dipped below $1,420 an ounce Monday, as investors lacked a fresh reason on the geopolitical front to turn their attention to the metal. Gold for April delivery settled $6.30 lower, or down 0.4%, at $1,419.90 an ounce on the Comex division of the New York Mercantile Exchange. That was gold�s lowest close in a little more than a week. Gold for June delivery, with the most contracts still outstanding, also retreated $6.30 to close at $1,421.30 an ounce.

�There�s no follow-through buying,� given the lack of news, said Andrey Kryuchenkov, an analyst at VTB Capital in London. �The physical [buying] side is absent. … Investors are just waiting for a a deeper pullback. They are not in any rush to jump in. Things are not rosy, but they are not worse, either.� A �lack of significant fresh developments from current geopolitical issues has resulted in some anxiety draining out of markets like gold,� analysts at MS Futures said in a note to clients Monday. Modest gains for the dollar have also given gold bears the upper hand, the analysts added. See full story.