Gold futures post back-to-back losses

Gold futures settled lower for a second straight session Wednesday, with prices for the most-active contract settling at their lowest since Aug. 25, FactSet data show. Gold found itself under renewed selling pressure Wednesday after stronger than expected U.S. economic data “boosted expectations around U.S. rates staying higher for longer,” Lukman Otunuga, manager, market analysis at FXTM, told MarketWatch. “The precious metal remains under the mercy of an appreciating dollar and rising Treasury yields.” December gold GCZ23declined by $8.40, or 0.4%, to settle at $1,944.20 an ounce on Comex.

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