Gold Futures Log Third-Straight Session Loss: Report

By Midnight Trader,  January 07, 2013, 02:12:34 PM EDT

Gold futures settled lower Monday to tally a three-session loss of 2.5%, MarketWatch reported.

February gold settled at $1,646.30 an ounce on the Comex division of the New York Mercantile Exchange, down $2.60, or 0.2%, for the session. February gold traded as low as $1,642.60.

Jason Rotman, president of Lido Isle Advisors in Newport Beach, Calif., said gold's likely to trade in a short-term range "between $1,630 support and $1,690 resistance."

His firm has a "bearish-neutral outlook" on the market following minutes from the Federal Reserve's December meeting, released Thursday, that suggested the central bank could bring quantitative easing to an end this year.




The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of The NASDAQ OMX Group, Inc.


This article appears in: Investing, Commodities

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