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Gold futures stretch their losses to a 7th straight month

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Gold futures fell on Monday to tally a third decline in a row, contributing to a loss for the month of October — the precious metal’s seventh consecutive monthly decline. Some investors remain skeptical about the Federal Reserve potentially pivoting to a more dovish stance on Wednesday, said Fawad Razaqzada, market analyst at City Index and FOREX.com. The Fed will announce its interest-rate decision on Wednesday afternoon. A 75 basis-point rate hike is almost certain, but “it is not fully priced in,” he said. Gold for December delivery GCZ22, -0.50% fell $4.10, or nearly 0.3%, to settle at $1,640.70 an ounce on Comex. For the month, prices for the most active contract lost 1.9%, according to Dow Jones Market Data.

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