Metals Stocks: Gold down a 6th session in a row as a strong dollar weighs on precious metals

by | Aug 22, 2022 | Stock Market

Gold prices posted a a sixth straight losing session on Monday — its longest losing streak since early July, as the rising dollar and higher Treasury yields continued to weigh on precious metals.Price action
Gold futures
for December delivery declined by $14.50, or 0.8%, to settle at $1,748.40 per ounce on Comex, the lowest most-active contract finish since July 27, FactSet data show. The loss was the sixth in a row for gold, the longest daily losing streak since the seven-session fall ended on July 6.

Silver futures
for September delivery lost 19 cents, or 1%, to $18.878 per ounce as losses in silver continued to outpace losses for gold. The precious metal was down a sixth straight session, its longest consecutive run of losses since early May.

for September delivery fell $149.60, or 7%, to settle at $1,981.80 per ounce, the lowest in more than a month. Platinum
for October delivery fell $20, or nearly 2.3%, to $868 per ounce.

Copper for September
delivery was off by a penny, or nearly 0.4%, to $3.6515 per pound.

What analysts are saying Carlo Alberto De Casa, an external market analyst at Kinesis Money, …

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