Metals Stocks: Gold prices mark fourth decline for longest losing streak in nearly 5 months [MarketWatch]
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Source: MarketWatch
Gold prices mark fourth decline for longest losing streak in nearly 5 months Gold futures finish lower Thursday to suffer a fourth consecutive loss, as the precious metal continued to be walloped by recent momentum in the U.S. dollar. August gold GCQ8, -0.63% fell $5.10, or 0.4%, to settle at $1,251 an ounce—the lowest settlement for a most-active contract since Dec. 13. The four consecutive session losses also marked the lengthiest selloff since a four-day slide ended Feb. 7, according to FactSet data. The most popular exchange-traded fund that tracks gold, the SPDR Gold Shares GLD, -0.39% has fallen 1.8% so far this week and was looking at a 4% drop in June, along with a 4.4% year-to-date retreat. “The gold market has a feeling of being oversold, but persistent strong U.S. dollar is keeping a lid on any modest recovery rally in face of ‘so-so;’ economic news” Thursday, which should have been support for the precious metal, said Jeff Wright, executive vice president at GoldMini
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