Gold futures settle lower for a fourth session in a row

Gold futures settled lower on Wednesday for a fourth session in a row as investors looked at first quarter data on the U.S. economy to gauge the timing of the Federal Reserve’s interest-rate hike and kept an eye on Greece’s stalled debt negotiations.

Gold for August delivery on Comex GCQ5, +0.36%  fell $3.70, or 0.3%, to settle at $1,172.90 an ounce. Prices settled at their lowest level since June 5.

July silver SIN5, +0.23% meanwhile, rose 11.6 cents, or 0.7 %, to $15.853 an ounce, rebounding after Tuesday’s 2.5% decline.

“U.S. GDP numbers are indicative of an interest-rate hike in September,” said Chintan Karnani, chief market analyst at Insignia Consultants.

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