Gold futures declined on Monday, following back-to-back session gains, to settle at their lowest in over nine months.
Prices for the precious metal fell as “recession jitters” continue to send the U.S. dollar higher, said Edward Moya, senior market analyst at OANDA. “Inflation is playing tug-of-war with gold and the precious metal is trying to hold the line.” August gold GCQ22, -0.29% fell $10.60, or 0.6%, to settle at $1,731.70 an ounce. Prices based on the most-active contract settled at the lowest since late September 2021, FactSet data show.