Gold Falls for Seventh Straight Day
Longest losing streak in four years
Gold fell for the seventh straight trading day Friday, notching its longest losing streak in four years.
May delivery futures fell $22.20, or 1.6%, to settle at $1,364.90 a troy ounce on the Comex division of the New York Mercantile Exchange. This is just a hair above $1,360.60 an ounce, where prices ended on April 15 following a record two-day rout that shaved $200 off gold prices.
July delivery futures were down $22.20, or 1.6%, at $1,364.70 a troy ounce.
Gold's seven-day slide has cut prices by 7.4%, or $109.00 a troy ounce, and marks the longest losing streak since 2009.