Gold futures stretch losses to a second straight session

Gold futures stretched their losses into a second straight session on Wednesday. "Gold, like all markets, is trading on a day-to-day basis according to how traders are interpreting the tea leaves for [Federal Reserve] monetary policy," said Brien Lundin, editor of Gold Newsletter. The metal was "victimized" Tuesday by higher Treasury yields as the "markets felt the lousy jobs number would prompt the Fed to ignore higher inflation" and on Wednesday, gold was "hurt by a slight rebound in the dollar index." Investors await further directional cues for the precious metal from the Fed's Beige Book report on economic conditions due out shortly. December gold fell $5, or 0.3%, to settle at $1,793.50 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.

Gold futures stretch losses to a second straight session
Gold futures stretched their losses into a second straight session on Wednesday. "Gold, like all markets, is trading on a day-to-day basis according to how traders are interpreting the tea leaves for [Federal Reserve] monetary policy," said Brien Lundin, editor of Gold Newsletter. The metal was "victimized" Tuesday by higher Treasury yields as the "markets felt the lousy jobs number would prompt the Fed to ignore higher inflation" and on Wednesday, gold was "hurt by a slight rebound in the dollar index." Investors await further directional cues for the precious metal from the Fed's Beige Book report on economic conditions due out shortly. December gold fell $5, or 0.3%, to settle at $1,793.50 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.