Gold futures finished lower Thursday, quashing a five-day rally as the metal sank behind a U.S. dollar that ticked higher on upbeat U.S. economic data.Gold’s earlier moves had been powered in large part by turmoil in China, a weaker dollar and hope that the Federal Reserve wouldn't raise key interest rates in September.
December gold GCZ5, -0.25% settled down $8, or 0.7%, at $1,115.60 an ounce. September silver SIU5, -0.32% lost 8 cents, or 0.5%, to $15.40 an ounce.
“What is more, the SPDR Gold Trust GLD, -0.83% the world’s largest gold ETF, recorded inflows of 4.2 tons yesterday, the highest daily inflow since the end of June,” said Commerzbank commodity analysts in a note early Thursday.
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