Gold futures settled lower for a second straight session on Monday as prices failed at an earlier attempt to reclaim the $1,100-an-ounce level after climbing by nearly 4% last week.
February gold fell $1.70, or almost 0.2%, to settle at $1,096.20 an ounce after trading as high as $1,108.30. Prices had registered a gain of 3.6% last week, representing the best weekly gain since Aug. 21, 2015, according to FactSet data.
Meanwhile, for industrial metals, concern about a slowdown in China – the world’s second-largest economy and the largest importer of metals – has been a major headwind.
Copper ended at its lowest level since 2009, with March copper losing 5 cents, or 2.5%, to $1.973 an ounce.
April platinum finished down $32.40, or 3.7%, at $846.30 an ounce, while March palladium PAH6, -3.36% shed $19.30, or 3.9%, to $474.30 an ounce.