Gold futures settled on Tuesday at their lowest level in six weeks on bets that Chinese demand for the metal will take a hit as the nation gears up for Lunar New Year celebrations.Gold also failed to score a boost from concerns over a Greek exit from the eurozone.
Gold for April delivery GCJ5, -0.07% fell $18.50, or 1.5%, to settle at $1,208.60 an ounce on Comex. Prices, based on the most-active contracts, haven’t settled at a level this low since Jan. 5.
March silver SIH5, +0.59% also dropped 92 cents, or 5.3%, to end at $16.378 an ounce.
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