Gold futures declined Monday, with prices for the most-active contract ending at their lowest since early April 2020. “Last week’s series of interest rate hikes by central banks had put gold under heavy near-term pressure and with no prospect of the banks changing course in the coming months, the medium-term outlook also looks gloomy for the precious metal,” said Rupert Rowling, market analyst at Kinesis Money. December gold fell $22.20, or 1.3%, to settle at $1,633.40 an ounce on Comex, the lowest most-active contract finish since April 1, FactSet data show.
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