Gold futures mark lowest settlement in over 5 weeks

September 17, 2021

New York (Sept 17) Gold futures declined on Friday, posting a loss for the week and settling at their lowest in more than five weeks. Positive economic numbers coming in each week, the most recent being U.S. retail sales, have contributed to gold's loss, said Adam Koos, president at Libertas Wealth Management Group. "Any additional, positive, hawkish numbers like these are going to solidify any probability of a 'sooner-than-later' [Federal Reserve] tapering schedule, which wouldn't likely bode well for gold, or bonds, for that matter." December gold GCZ21, -0.31% fell $5.30, or 0.3%, to settle at $1,751.40 an ounce - down 2.3% for the week. That was lowest finish for a most-active contract since Aug. 10, FactSet data show.


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