Gold futures capped the biggest weekly drop since August as declines across commodities dimmed inflation prospects and cut the metal’s appeal as a store of value.
The Bloomberg Commodity Index, a measure of returns for 22 components, dropped to a three-week low, led by losses for hogs, sugar and natural gas. Gold earlier rose as much as 1.1 percent as a interest-rate cut in China, which rivals India as the world’s top bullion buyer, stoked speculation that Asian demand would climb amid a stabilizing economy.
