Gold marks second consecutive loss as Brexit fears recede

Gold futures settled lower for a second-straight session on Monday as growing expectations that the United Kingdom will remain part of the European Union lifted investors’ appetite for riskier assets and prompted a rally in global stock markets.

Gold for August delivery GCQ6, -0.43% shed $2.70, or 0.2%, to settle at $1,292.10 an ounce, extending Friday’s 0.3% loss. Still, last week marked a third straight week of gains for the metal.

On a technical trading level, he said key support levels for the December Gold contract GCZ6, -0.39%  are near $1,280 and $1,250 respectively. December gold settled above $1,298 Monday.

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