Gold Futures Settle 0.7% Lower at $3,940.40 as Oil Hits Three-Week Low

U.S. gold futures for December delivery settled 0.7% lower at $3,940.40 per ounce on Tuesday, Nov. 3, Reuters reported, as oil fell to a three-week low. Lower oil can ease inflation pressure and reduce the case for tighter Fed policy. The Wall Street Journal reported gold settled higher that day, so the direction differs between outlets.