Gold futures end lower, extending their loss from last week

Gold futures finished lower on Monday, holding below the key $2,000 level as “Wall Street awaits a meaningful update with [U.S.] debt ceiling negotiations and to see how bad tensions get between the U.S. and China,” said Edward Moya, senior market analyst at OANDA. “Until we see market stress, gold is drifting lower,” he said, adding that President Joe Biden’s meeting with House Speaker Kevin McCarthy was scheduled for Monday afternoon. Gold for June delivery
GCM23,
-0.46%
settled at $1,977.20 an ounce on Comex, down $4.40, or 0.2% for the session.