Gold futures settled lower on Tuesday, marking a third straight session decline as bond yields and the dollar climbed, dulling the metal’s investment appeal. Changes in bond yields and the U.S. dollar index will continue to impact the gold price until the Federal Reserve monetary policy meeting next week, said Chintan Karnani, director of research at Insignia Consultants. February gold GCG22, +0.06% fell $4.10, or 0.2%, to settle at $1,812.40 an ounce. Prices based on the most-active contract posted declines on Thursday and Friday, ahead of Monday’s Martin Luther King, Jr. holiday.

Read Next

Read Next

UPDATE: Microsoft to acquire Activision Blizzard in all-cash deal valued at $68.7 billion to mark its biggest-ever deal

Microsoft Corp. undefined said Tuesday it has reached an agreement to acquire Activision Blizzard Inc. undefined in an all-cash deal valued at $68.7 billion that will be the biggest ever by the software giant. Microsoft will pay $95 per Activision share to create the world’s third-biggest gaming company measured by revenue, behind Tencent and Sony. The deal includes franchises “Warcraft,” “Diablo,” “Overwatch,” “Call of Duty” and “Candy Crush,” in addition to global eSports activities through Major League Gaming, the companies said in a joint statement. The deal is expected to close in fiscal 2023. Activision will continue to be led by CEO Bobby Kotick and his management team, who have come under criticism for their handling of misconduct by some of the company’s employees. “Gaming is the most dynamic and exciting category in entertainment across all platforms today and will play a key role in the development of metaverse platforms,” said Satya Nadella, chairman and CEO of Microsoft. Microsoft shares fell 1.8% premarket on the news. Activision shares were halted for the news, but had gained 37.6% before the halt was announced. Last week, Take-Two Interactive Inc. undefined announced its acquisition of Zynga Inc. undefined in a $12.7 billion cash-and-stock deal.

About the Author

Myra P. Saefong, assistant global markets editor, has covered the commodities sector for MarketWatch for 20 years. She has spent the bulk of her years at the company writing the daily Futures Movers and Metals Stocks columns and has been writing the weekly Commodities Corner column since 2005.