by Gold futures finished Friday with a modest loss, however held onto a slight gain for the week — their sixth weekly gain in a row. “Gold has had a good run in the previous couple of weeks benefitting from the downturn within the U.S. greenback,” mentioned Colin Cieszynski, chief market strategist at SIA Wealth Management. Technically, gold was trying “a bit overbought and due for a pause within the brief time period,” particularly with the Federal Reserve coverage resolution due Wednesday, he mentioned. Gold for February supply
GCG23,
fell 60 cents, or lower than 0.1%, to settle at $1,929.40 an oz. on Comex. For the week, costs for the most-active contract added practically 0.1%, based on Dow Jones Market Data.
