Gold futures fell on Thursday to their lowest finish in more than 15 months, pressured as the U.S. dollar continued to strengthen. Gold and silver are unlikely to make solid bottoms and are even less likely to recover aggressively until the trade has reason to believe planned Federal Reserve rate hikes will “not need to be adjusted even higher and following views that a recession can be avoided,” analysts at Zaner wrote in Thursday’s newsletter. August gold declined by $29.70, or 1.7%, to settle at $1,705.80 an ounce. Prices based on the most-active contract settled at their lowest since March 30, 2021, FactSet data show.
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