Gold settles lower for the first time in six sessions but holds above $1,800

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Gold futures finished slightly lower Thursday, marking the first decline in six sessions, as stocks, bond yields and the dollar all headed south, perhaps checking bullion’s decline. A selloff in the equity market—though the Dow Jones Industrial Average
DJIA,
-0.75%,
the S&P 500 index
SPX,
-0.86%
and the Nasdaq Composite Index
COMP,
-0.72%
were off their worst levels of the session—may have resulted in investors liquidating some of their winning holdings like gold, weighing on the precious metal’s price, strategists speculated. August gold closed down $1.90, or 0.1%, to settle at $1,800.20 an ounce. The 10-year Treasury note
TMUBMUSD10Y,
1.330%
and the 30-year bond
TMUBMUSD30Y,
1.966%
yield both fell to around February lows. Earlier in the session, gold had enjoyed solid gains that had suggested that the commodity might book a sixth straight gain, matching its longest streak of advances since the period ended May 20.

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