Gold futures mark lowest settlement in over a week

Gold futures declined on Monday to finish at their lowest prices in more than week. Analysts said that with Europe celebrating the May Day holiday, trading was particularly volatile on Comex as traders digested news of JPMorgan Chase’s takeover of First Republic Bank, ahead of Wednesday’s policy decision by the U.S. Federal Reserve. Gold for June delivery GCM23 settled at $1,992.20 an ounce on Comex, down $6.90, or nearly 0.4% for the session. The settlement was the lowest for a most-active contract since April 21, FactSet data show.

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