Gold futures settle lower after last week’s rise

Gold futures finished lower on Monday, giving back a portion of last week’s climb. “Gold’s rebound will have to take a break until we know for sure if the [Federal Reserve] is done raising rates” at the July 26 monetary policy meeting, said Edward Moya, senior market analyst at OANDA.” The labor market is still hanging in there, but expectations remain for it to gradually weaken.” Gold for August delivery
GCQ23,
-0.24%
fell $8, or 0.4%, to settle at $1,956.40 an ounce on Comex. Prices based on the most-active contract ended Friday at their highest since finish since mid-June and gained about 1.7% last week, according to Dow Jones Market Data.