Gold futures log back-to-back declines, notch lowest close since April 2020

Gold futures declined Monday, with prices for the most-active contract ending at their lowest since early April 2020. “Last week’s series of interest rate hikes by central banks had put gold under heavy near-term pressure and with no prospect of the banks changing course in the coming months, the medium-term outlook also looks gloomy for the precious metal,” said Rupert Rowling, market analyst at Kinesis Money. December gold GCZ22, -1.48% fell $22.20, or 1.3%, to settle at $1,633.40 an ounce on Comex, the lowest most-active contract finish since April 1, FactSet data show.