FXTM: Gold Bulls Lose Battle, But War Still Rages OnBy Kitco Newsn Gold is on the defensive but the fight isn’t over, says Lukman Otunuga, research analyst at FXTM. Spot metal was trading down $8.35 to $1,304.70 as of 8:49 a.m. EST and hit a two-week low of $1,304.55.