Gold futures mark lowest settlement since late July

0
17

Gold futures on Monday logged their lowest settlement in nearly four weeks, down a sixth straight session — their longest such losing streak since early July. The “king dollar” has returned as investors “brace for a potentially hawkish speech” by Federal Reserve Chairman Jerome Powell at the Jackson Hole Symposium on Friday, said Edward Moya, senior market analyst at OANDA. “Gold will eventually settle on a trading range, but it seems the floor might be a little lower as the risks of energy and food inflation could keep the Fed remaining aggressive with rate hikes into the new year.” December gold GCZ22, +0.30% fell $14.50, or 0.8%, to settle at $1,748.40 an ounce, the lowest most-active contract finish since July 27, FactSet data show.

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

Previous article: ‘Stuck in an ever-so-draining rat race’: Burnout, apathy on the rise rise as China’s youth face bleak job market
Next articleChicago Fed national activity index produces positive reading for July

LEAVE A REPLY

Please enter your comment!
Please enter your name here