Gold futures settled lower on Thursday, putting an end to a streak of gains that ran for five consecutive sessions. Gold dropped partly because the robust U.S. GDP growth reported Thursday will encourage the Federal Reserve “to be more hawkish, but also because the metal has gained over $300 so far in this rally, and some are undoubtedly looking for an excuse to take some money off the table,” said Brien Lundin, editor of Gold Newsletter. Gold for February delivery GCG23, -0.28% fell $12.60, or nearly 0.7%, to settle at $1,930 an ounce on Comex. On Wednesday, prices posted a fifth straight session climb and the most-active contract finished at its highest since April.
This article was originally published by Marketwatch.com. Read the original article here.
