Gold ends lower for three-session loss of over 3%

Gold ends lower for three-session loss of over 3%
SAN FRANCISCO (MarketWatch) — Gold futures , tallying a three-session loss of just over 3%, holding at the lowest level since late June, but prices clawed back from the session’s low. The erased earlier strength, easing pressure on dollar-denominated gold ahead of the U.S. employment data Friday. June gold (CNS:GCM3) lost $1.10, or 0.1%, to settle at $1,552.40 an ounce on the Comex division of the New York Mercantile Exchange. That was the lowest settlement for a most-active contract since June 28, FactSet data show, but prices cut much of their losses in the last few minutes of the Comex session. With nonfarm payrolls data on tap, technical traders would not want to be caught short with that “fundamental catalyst” due in the morning, said Jeffrey Wright, managing director at Global Hunter Securities.