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Sept. 7, 2021, 1:44 p.m. EDT

Gold futures settle below $1,800 an ounce

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    Gold Dec 2021 (GCZ21)

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By Myra P. Saefong


Gold futures declined on Tuesday, settling below the key $1,800 mark for the first time since Aug. 26, after ending last week at their highest since mid-June. The drop in prices is a "reaction to dollar strength and rising Treasury yields," said Michael Armbruster, managing partner at Altavest. If the Federal Reserve's Beige Book report due out Wednesday "suggests that the U.S. economy is cooling, then that would be a bullish factor for gold," he said. For now, "we still like buying gold on dips below $1,800." December gold /zigman2/quotes/210039437/delayed GCZ21 -0.99% fell $35.20, or 1.9%, to settle at $1,798.50 an ounce after posting a fourth consecutive weekly gain last Friday. U.S. trading was closed Monday for the Labor Day holiday.

US : U.S.: Nymex
$ 1,763.90
-17.70 -0.99%
Volume: 1,331
Dec. 2, 2021 12:02p

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