Gold futures dipped below $1,800 an ounce, on track to settle below that key level for the first time in more than a week amid a broader pullback in commodity prices as the U.S. dollar advanced and traders grappled with a decidedly “risk off” mood in markets. Price action
December gold futures
GCZ22,
-1.12%
fell by $21, or 1.2%, to $1,794.50 an ounce on Comex. Prices for the most-active contract were poised to settle at their lowest since Aug. 5, according to FactSet data.
September silver
SIU22,
-2.12%
lost 49.8 cents, or 2.4%, to $20.20 per ounce. A settlement around this level would also be the lowest since Aug. 5.
September palladium
PAU22,
-1.73%
declined by $48.90, or 2.2%, to $2,170.50 per ounce, while October platinum
PLV22,
-2.69%
shed $30.20, or 3.2%, to $929.20 per ounce.
September copper
HGU22,
-1.20%
dropped 7.5 cents, or 2%, to $3.5935 per pound, on track for its biggest daily drop in a month.
What analysts are saying With equity futures pulling back and Treasury yields falling, markets appeared to be shifting back into “risk off” mode Monday following a torrid four-week rally for the S&P 500
SPX,
+0.20%.
S …