June 17, 2024
Gold futures down a second day, up a 6th week in a row

Gold futures down a second day, up a 6th week in a row

Gold prices ended lower on Thursday for a second day in a row, but posted a sixth straight weekly gain for the holiday-shortened week and remained within striking distance of the yellow metal’s all-time closing high for a most-active futures contract.

Price action
Market drivers

Gold’s pullback Thursday is “likely related to profit taking or a reluctance by bulls to take on new positions ahead of the long weekend,” said Colin Cieszynski, chief market strategist at SIA Wealth Management. The reluctance also…

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