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Gold prices settle at lowest since late July

Gold prices fell 1% on Thursday to settle at their lowest since late July. Bitcoin prices soared and U.S. stocks traded broadly higher, dulling demand for haven gold. Gold prices have been weighed down by “elevated risk appetite,” with the market “optimistic that some deal will be struck this week to avert a government shutdown … and that a stimulative tax reform bill will reach the President’s desk by year-end,” said Peter Grant, chief market analyst with gold broker USAGOLD. February gold lost $13, or 1%, to settle at $1,253.10 an ounce.

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