Gold and silver futures settled Wednesday at their lowest levels in about three weeks, as the dollar found traction on rate-hike expectations and U.S. stocks gained on the back of mostly upbeat earnings results.“Haven” gold tends to move opposite the dollar and riskier stocks, but while gold has been choppy in recent sessions as stock indexes SPX, +0.43% test records, the yellow metal remains underpinned by global growth uncertainty.
Read: Dow poised for 7th straight record as Microsoft rallies
August gold GCQ6, -0.42% fell $13, or 1%, to settle at $1,319.30 an ounce. Prices, based on the most-active contracts, logged their lowest settlement since June 28, according to FactSet. That close comes just a day after marking its highest finish in nearly a week.
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