Gold futures log lowest finish in month – MarketWatch

Gold futures fell on Monday to mark their lowest settlement in a month. “Gold had a nice run recently, but has started to back away from $1,900 in what I think is common after becoming overbought and meeting technical resistance,” said Colin Cieszynski, chief market strategist at SIA Wealth Management. “Over the past few months, on a day to day basis, we have seen alternative currency capital swinging back and forth between precious metals and cryptocurrencies,” he said, adding that Monday’s rebound in bitcoin may be “siphoning away some demand from gold and silver.” August gold GCQ21, +0.13% fell $13.70, or 0.7%, to settle at $1,865.90 an ounce, the lowest most-active contract finish since May 14, FactSet data show.