Gold futures fall for the month, edge higher for the quarter

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Gold futures posted a loss for Wednesday’s session, contributing to a decline for the month, but the precious metal notched an eighth straight quarterly gain. “The stats show that it was a great quarter for the metals, but September was a lousy month,” said Brien Lundin, editor of Gold Newsletter. A “small uptick in real interest rates” was the primary reason for the month’s loss. “Considering the blistering move gold had made earlier in the quarter to over $2,000 an ounce, and the fact that it had failed to build upon that rally, the minor rise in real rates was all that was needed to shake the weak hands out of the gold market and start a sell off,” he said. December gold fell $7.70, or 0.4%, to settle at $1,895.50 an ounce. Based on the most-active contracts, prices fell 4.2% for the month, but gained 5.3% for the third quarter, according to Dow Jones Market Data.
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