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Sept. 23, 2021, 1:47 p.m. EDT

Gold futures mark lowest finish in over 6 weeks

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By Myra P. Saefong

GCZ21

Gold futures moved sharply lower on Thursday to log their lowest finish in more than six weeks. The loss is "related to a combination of factors centered around investor confidence improving and fear easing," said Colin Cieszynski, chief market strategist at SIA Wealth Management. So far, China property giant Evergrande's problems have been contained, the Federal Reserve is moving toward tapering and at the Bank of England's monetary policy committee vote, there were two "hawkish dissenters" calling for reducing stimulus as well, he said. "A more hawkish trend for central banks improves the value of paper money relative to hard currency like gold." December gold /zigman2/quotes/210039437/delayed GCZ21 +0.06% fell $29, or 1.6%, to settle at $1,749.80 an ounce, the lowest most-active contract finish since Aug. 10, FactSet data show.

/zigman2/quotes/210039437/delayed
US : U.S.: Nymex
$ 1,785.90
+1.00 +0.06%
Volume: 35,617
Oct. 21, 2021 4:37a
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