Gold Futures Mark 7th Loss In 8 Sessions

By Markets MarketWatch Pulse

Gold futures fell Tuesday to mark their seventh loss in the last eight sessions, as the dollar traded solidly higher in the wake of Brexit-induced losses for the British pound. "This correction is not driven by fundamentals, but due to dollar strength mixed with the triggering of stop losses," said Nico Pantelis, head of research at Secular Investor. "The $1,260 level looks like a good consolidation area for now but in the short run, we could see gold make another attempt to drop towards $1,200," he said. December gold fell $4.50, or 0.4%, to settle at $1,255.90 an ounce.

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