Gold futures log back-to-back session losses


Gold futures settled lower Tuesday for a second straight session. Prices struggled as U.S. Treasury yields jumped after disappointing data on housing starts, said Edward Moya, senior market analyst at OANDA. All eyes will be on the minutes from the Federal Reserve’s July meeting due out Wednesday, “which will likely confirm we need to see the next labor and inflation data before making the call that the Fed can go at a slower pace of tightening,” he said. December gold GCZ22, +0.36% fell $8.40, or 0.5%, to settle at $1,789.70 an ounce. Prices based on the most-active contract settled at their lowest since Aug. 5, FactSet data showed.

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

Previous articleDow Jones Newswires: New Zealand’s central bank raises cash rate, sees more tightening
Next articleCoronavirus Update: Pandemic state of emergency lifted in North Carolina


Please enter your comment!
Please enter your name here