Gold Futures Just Extended Losses After Trading Little Changed

Gold futures, which had been trading little changed most of the early morning in the U.S., just moved rapidly lower.

Futures extended declines by about 0.7 percent in 15 minutes of trading. Losses accelerated amid gains in the dollar, which reduces the allure of bullion as an alternative asset. Prices posted the first weekly advance on Friday since Aug. 21 as the Federal Reserve held interest rates unchanged. Higher rates curb demand for gold because it doesn’t pay interest, unlike competing assets.

Gold Moves Lower

Bloomberg