Gold futures registered a fourth straight day of losses, settling lower as a stronger dollar and a rally in global markets dulled the metal’s investment appeal.Gold for December delivery GCZ5, +0.62% lost $2, or 0.2%, to settle at $1,122.60 an ounce on Comex after trading as high as $1,128.50. The settlement was the lowest since Aug. 18.
Gold has lost a total of 3.2% from Friday’s settlement of $1,159.60. Analysts have said that as investors searched for cash to cover margin calls, gold hasn’t lived up to its billing as a haven asset even as a recent rout in global stocks, sparked by China fears, gripped the market.
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