Gold futures settle lower, post a third straight weekly gain

Gold futures fell on Friday, but posted a gain for the week–their third in row. “Drivers for gold have included global growth in negative interest rate bonds, the decline in real interest rates in the U.S., [and] uncertainty regarding U.S./China trade policy and political unrest in Hong Kong,” said Rob Haworth, senior investment strategist at U.S. Bank Wealth Management. However, “with bonds and gold overbought and bullish speculative positions at relative extremes last week … gold may be due for a near-term pause,” he said. December gold

GCZ19, +0.00%

fell by $7.60, or 0.5%, to settle at $1,523.60 on Comex. For the week, most-active contract prices rose by 1%, according to FactSet data.

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