Oct. 26, 2021, 1:39 p.m. EDT

Gold futures settle back below $1,800 an ounce

Gold futures declined on Tuesday to settle back below the key $1,800-an-ounce mark, a day after posting the highest finish since mid-September. Tuesday's price action was "just a routine downside correction in an uptrend that remains in place on the daily bar chart," with some featured "profit-taking from the shorter-term futures traders," said Jim Wyckoff, senior analyst at Kitco.com. Still, the path of least resistance for gold prices remains sideways to higher, he said. December gold declined by $13.40, or 0.7%, to settle at $1,793.40 an ounce. On Monday, prices based on the most-active contract settled at $1,806.80, their highest since Sept. 14, according to FactSet data.

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