Gold finishes lower, surrendering prior session’s gains

Gold closed lower on Wednesday, giving up gains from the previous session, as the precious metal is expected to face more selling pressure in the coming days.

Gold prices GCZ4, +0.23%  slid $3.90 to settle at $1,159.10 an ounce. December silver SIZ4, +0.14%  eased 6 cents at $15.62 an ounce.

Last Thursday, gold settled at $1,142.60, its lowest level of the year. Prices approached that level again on Tuesday, but managed to finish in green territory by session’s end.