Gold Futures Settle At a Nearly Five-week Low

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Gold futures fell for a second straight session on Thursday, with prices settling at their lowest level in almost five weeks. Richard Gotterer, managing director at Wescott Financial Advisory Group, attributed the metal's recent declines, in part to "a near resolution of the Greek debt drama, no follow through from equity-market volatility, stronger U.S. economic data and general confusion over the [Federal Reserve's] direction regarding interest rates in the very short term." August gold fell $9.70, or 0.8%, to settle at $1,175.20 an ounce on Comex. That was the lowest settlement for a most-active contract since May 1.

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