Gold futures drop to lowest settlement in over 7 weeks

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Gold futures dropped on Thursday to mark their lowest settlement since mid-October. The precious metal failed to find support from uncertainty surrounding the omicron variant of the coronavirus, as U.S. benchmark stock indexes climbed. February gold GCG22, +0.33% fell $21.60, or 1.2%, to settle at $1,762.70 an ounce. That marked the lowest finish for a most-active contract since Oct. 12, according to FactSet data.

This article was originally published by Marketwatch.com. Read the original article here.

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