Gold down a second session, holds ground at lowest since September
Gold futures posted a loss for a second straight session on Tuesday, holding ground at their lowest finish since late September of last year. "The precious metal has been smothered by an appreciating dollar and expectations over the [Federal Reserve] maintaining an aggressive stance towards higher interest rates," said Lukman Otunuga, manager, market analysis at FXTM. "The precious metal looks depressed and could be in store for more pain if the pending U.S. CPI report meets or exceeds market expectations" when it's released Wednesday, he said. August gold fell $6.90, or 0.4%, to settle at $1,724.80 an ounce. Prices based on the most-active contract settled at the lowest since Sept. 29, 2021, FactSet data show.
Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit MarketWatch.com for more information on this news.