Gold futures down a 4th straight session

Gold futures ended lower on Thursday, with prices for the precious metal down a fourth straight session. Losses for gold are “mainly due to the strength in the dollar, as expectations are that [the Federal Reserve] may adopt even more hawkish monetary policy,” Naeem Aslam, chief market analyst at AvaTrade, told MarketWatch. In testimony before the House Financial Services Committee Thursday, Fed Chairman Jerome Powell said he has an “unconditional” commitment” to fight inflation. August gold fell by $8.60, or 0.5%, to settle at $1,829.80 an ounce.

Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit MarketWatch.com for more information on this news.