Gold settles lower for fourth straight session

SAN FRANCISCO (MarketWatch) — Gold futures fell Tuesday for a fourth session in a row to log their lowest settlement since mid-August, as a climb in U.S. equities helped draw investors away from the precious metal.Prices have now tallied a four-session loss of more than $45 an ounce pressured, in part, by a lack of demand from China, which celebrated the Lunar New Year last week and uncertainty over the so-called global currency wars.
Gold for delivery in April (COMEX:GCJ3) fell $5.30, or 0.3%, to settle at $1,604.20 an ounce on the Comex division of the New York Mercantile Exchange, holding above $1,600 throughout the trading session.

The settlement was the lowest for a most-active gold futures contract since Aug. 14, according to FactSet data. Prices lost $26 on Friday, and U.S. markets were closed for Presidents Day on Monday. http://www.marketwatch.com/story/gold-futures...=afterbell