Gold futures log lowest settlement in a month

Gold futures logged their lowest settlement in a month on Wednesday, as a rise in Asian and European equities and strength in the U.S. dollar lured investors away from the precious metal.

Gold for December delivery GCZ5, +0.27% gave up $19, or 1.7%, to settle at $1,102 an ounce on Comex. That was the lowest settlement price since Aug. 7. Gold prices have fallen 10 out of the last 12 sessions. That doesn’t include Monday, which didn't see a Comex settlement price because of the Labor Day holiday.

Asian and European stocks rallied, while U.S. stocks were trading lower by the Comex settlement in the wake of their second-best rally of the year on Tuesday.


Appetite for risk combined with a stronger dollar as measured by the U.S. ICE Dollar index DXY, +0.01% weighed on the dollar-denominated yellow metal.

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