Gold futures lost ground Tuesday, extending their September pullback, to trade below the psychologically significant $1,500-an-ounce level as a continued rebound by bond yields dulled the metal’s appeal.
Gold for December delivery on Comex was off $11.30, or 0.7%, to trade at $1,499.80 an ounce, with the most-active contract slipping back below $1,500 for the first time since Aug. 12, according to FactSet. December silver fell 16.7 cents, or 1%, to $18 an ounce.
Concerns about the U.S.-China trade battle appear to have moved to the back burner for investors after being blamed for volatile market action in August. U.S. Treasury Secretary Steven Mnuchin on Monday told Fox Business that he views renewed discussions with Beijing as a sign of good faith.
Source : Marketwatch