Gold futures settled modestly lower on Tuesday, pulling back from
recent gains and holding ground below the $1,300 level. "Gold prices
remain range-bound over the past month," said Rob Haworth, senior
investment strategist at U.S. Bank Wealth Management. "Neither U.S.
economic momentum, nor the pace of [Federal Reserve] tapering has been
sufficient to press prices lower," he said, and "geopolitical risks,
especially Russia-Ukraine, have not been enough to heat up the price of
gold significantly." June gold fell $1, or 0.1%, to settle at $1,294.80
an ounce on Comex.
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