Gold futures declined Thursday for a fourth straight session, settling at their lowest in nearly two months. The precious metal is “kind of doing its own thing and weakening as more traders capitulate and agree that the [Federal Reserve] will deliver a few more quarter-point rate rises,” said Edward Moya, senior market analyst at OANDA. Gold is at a 2-month low and “it will probably take confirmation that the economy is slowing down faster before prices can muster up a meaningful rally.” Gold for April delivery GCJ23 fell $14.70, or 0.8%, to settle at $1,826.80 an ounce on Comex. That was the lowest most-active contract finish since Dec. 30, FactSet data show.
Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit MarketWatch.com for more information on this news.
