Gold futures weakened for a fourth day on Thursday as expectations for aggressive action by the Federal Reserve diminished the precious metal’s luster, setting prices on track for a nearly 2% monthly loss. Silver prices also softened, heading for their third straight day of declines and looking to post a loss for the month.
Price action
Gold futures
GCQ22,
-0.27%
GC00,
-0.27%
for August delivery were down $10.70, or 0.6%, to $1,806 .80per ounce. Prices as of Wednesday traded around 1.6% lower for the month and down 0.8% year to date.
Silver futures
SI00,
-1.32%
SIU22,
-1.65%
for September delivery dropped 57.3 cents, or 2.8%, to $20.165 per ounce.
October platinum
PLV22,
-1.78%
PL00,
-1.78%
tumbled $24.90, or 2.7%, to $885 per ounce.
September palladium
PAU22,
-4.19%
PA00,
-4.19%
lost $63.10, or 3.2%, to $1,883.50 an ounce.
Copper futures
HGU22,
-1.90%
HG00,
-1.90%
for September delivery dropped 7.9 cents, or 2.1%, to $3.702 per pound.
What analysts are saying One precious metals analyst said …