Gold Declines 0.4%, Sealing First Monthly Loss Since May

By Wallace Witkowski Markets MarketWatch Pulse

Gold futures settled lower on Wednesday, helping push the precious metal to its first monthly decline since May, underscoring a broad slide in the metals complex in August. Gold for December fell $5.10, or 0.4%, to settle at $1,311.40 an ounce on Wednesday, for a 3.4% decline over the month of August. Silver for December delivery rose 3 cents, or 0.2%, to settle at $18.71 an ounce, but over the month of August the price of the most-active contract dropped 8.1%. Similarly, prices for copper, platinum, and palladium all declined over August.

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