Gold futures settle the day lower, unable to break out a negative stretch–with gold finishing lower in 3 out of the past 4 sessions.

The front-month contract closes down 0.2% to $3,293.60 a troy ounce. It appears to be a gradual downward trend, says Ole Hansen of Saxo Bank in a note.

"Currently, gold is lacking a clear directional trend, primarily due to conflicting macroeconomic signals and investor hesitation," says Hansen.