Gold futures settled lower on Thursday, pulling back from the one-week high it settled at a day earlier. The Federal Open Market Committee is "looking to lower [interest] rates, but gradually not crash the U.S. dollar in the process," said Jeff Wright, executive vice president of GoldMining Inc. "I am sensing a little profit taking, but gold still holding safely above $1,400," he said.
August gold fell $5.80, or 0.4%, to settle at $1,406.70 on Comex. It settled at $1,412.50 Wednesday, which was the highest for a most-active contract since July 3.
Source : Marketwatch