Gold futures drop over 4% for biggest 1-day percentage loss since mid-March

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Gold futures fell Tuesday by more than 4% to post their largest one-day percentage loss in nearly five months as investors focused attention on a rally in U.S. Treasury yields and a climb in the S&P 500 toward its all-time closing high. December gold fell $93.40, or 4.58%, to settle at $1,946.30 an ounce. The percentage loss for the session was the largest for a most-active contract since March 13, when prices posted a decline of 4.63%, according to FactSet data.Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit MarketWatch.com for more information on this news.