Gold futures settle lower for a 7th straight session

Gold futures fell on Wednesday to tally a seventh straight session decline, the longest stretch of consecutive losses since the seven-session loss ended on March 5, 2019, FactSet data show. The fundamental factors behind gold’s weakness are “still in place,” including a sharp tightening of monetary policy and weak demand for gold from central banks, said Alex Kuptsikevich, senior market analyst at FxPro. August gold declined $27.40, or nearly 1.6%, to settle at $1,736.50 an ounce, marking the lowest most-active contract settlement since late September 2021.

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