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