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Sept. 29, 2022, 1:44 p.m. EDT

Gold futures settle slightly lower a day after posting a gain

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    Gold Dec 2022 (GCZ22)

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By Myra P. Saefong

GCZ22

Gold futures edged lower on Thursday, giving back a small portion of the 2.1% gain prices saw a day earlier. Given that U.S. monetary tightening is not complete and that the Federal Open Market Committee is poised to raise the policy rates by a further this year, "we see gold prices continuing to correct lower," said analysts at ICICI Bank. They expect gold prices to move down to the $1,600 level by December. Gold for December delivery /zigman2/quotes/210039517/delayed GCZ22 +0.27% fell $1.40, or nearly 0.1%, to settle at $1,668.60 an ounce on Comex.

/zigman2/quotes/210039517/delayed
US : U.S.: Nymex
$ 1,790.30
+4.80 +0.27%
Volume: 1.00
Dec. 8, 2022 1:36p
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