Gold futures tally a fourth straight session decline
Gold futures logged a fourth straight fall on Tuesday (http://www.marketwatch.com/story/gold-prices-flat-but-close-to-longest-string-of-losses-in-8-months-11611668334), marking the longest stretch of consecutive losses since the five-session decline ended on April 30, FactSet data show. The Federal Reserve will conclude its two-day meeting with a statement on monetary policy Wednesday. Monetary accommodation will be "the predominant theme for the time being, especially while Covid and its economic consequences are felt," Stephen Flood, director of bullion services at GoldCore in Dublin, told MarketWatch. "A potential vicious rise in new Covid variant U.S. cases in February/March may test the broader economy and, as such, rumoured 'taper talk' may prove premature at this stage," he said, implying potential support for gold. February gold fell $4.30, or 0.2%, to settle at $1,850.90 an ounce.
-Myra P. Saefong; 415-439-6400; AskNewswires@dowjones.com
(END) Dow Jones Newswires
January 26, 2021 13:49 ET (18:49 GMT)
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