Gold futures settle lower after two-session climb

Gold futures settled modestly lower on Tuesday, pulling back after two sessions of gains and ahead of monthly U.S. jobs data due out later this week that may offer a hint on the Federal Reserve’s monetary policy.

The yellow metal’s losses came despite sharp declines in oil prices CLH6, +0.81%  and the U.S. stock market DJIA, +1.13% which had been luring some investors to the perceived safety of gold in recent days.

April gold GCJ6, +0.11%  edged down by 80 cents, or 0.1%, to settle at $1,127.20 an ounce, retreating from an earlier high above $1,131. Prices tallied a gain of roughly 1.1% over the past two sessions.

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