Gold futures logged a third straight session of modest declines on Wednesday, as U.S. stocks and oil prices climbed in the wake of the U.S. decision to withdraw from the Iran nuclear deal, drawing investment interest away from the precious metal.
Gold failed to find support from a pause in the dollar’s rise to multi-month highs.
The precious metal is currently "range bound, with support at $1,300 and firm ceiling in the short term near $1,320," said Jeff Wright, executive vice president at GoldMining Inc.
June gold shed 70 cents, or less than 0.5%, to settle at $1,313 an ounce. Prices had settled a week ago at a two-month low of $1,305.60. In other metals trading, July silver SIN8, +0.26% rose 0.4% to $16.539 an ounce.
Source : Marketwatch