Gold futures ended slightly lower on Wednesday, with prices for the precious metal down a third straight session.
Traders and investors are focused on inflation and energy prices, said Chintan Karnani, director of research at Insignia Consultants. However, a “near recession outlook for the second half of the year can cause a pause in interest-rate hikes,” he said, which can support gold prices. Karnani said he sees gold as bullish in the third quarter as long as it trades over $1,810 on a daily closing basis. August gold GCQ22, -0.20% edged down by 40 cents, or less than 0.1%, to settle at $1,838.40 an ounce.