Gold futures declined Thursday to lose more than half of what they gained a day earlier, when prices settled at their highest since June. “Gold has struggled to sustain its breakout from last week, with prices coming under pressure due to the rallying U.S. dollar and [Treasury] yields on the front foot for most of the week,” said Fawad Razaqzada, market analyst at ThinkMarkets. “The downside should be limited for as long as inflation concerns remain the main focal point,” he said, adding that he expects “dip buyers to step in on any short-term weakness.” December gold GCZ21, -0.17% fell $8.80, or 0.5%, to settle at $1,861.40 an ounce. Prices on Wednesday rose 0.9% to see the most-active contract finish at the highest since June 11, FactSet data show.
This article was originally published by Marketwatch.com. Read the original article here.
