Gold futures finished lower on Tuesday, a day after settling at their highest in just over two weeks on the heels of a weaker U.S. dollar.
Investors continued to keep an eye on the moves in the dollar, as well as prospects for additional stimulus from Washington.
“Gold price consolidation continues,” said Will Cai, partner at Wilshire Phoenix.
Prices have been “resilient with fundamental supporting factors still in place,” he said in emailed commentary. “Some of the underlying drivers are themselves in retracement/consolidation after overextension,” including real interest rates–thus affecting gold price.