February
gold was $1.80, or 0.2%, lower at $1,058.20, after ending the previous
session at its lowest level in about two weeks. The yellow metal is on
pace to cap the week with a 1.5% drop, along with a 0.5% decline in
December and a withering 10.5% decline for the year, according to
FactSet data.
Gold
has declined for three straight years, starting back in 2013. That is
the longest streak of annual losses for the metal since 1996, FactSet
shows.
Gold’s
sister metal, silver, didn’t fare much better. March silver is off a
penny Thursday, or less than 0.1%, at $13.84 an ounce. The gray metal is
on track to end the week with a 3.8% weekly decline, a 1.8% monthly
fall and an annual drop of 11.3%.
The
bruising year for metals comes amid a broader commodity rout sparked by
worries about the health of China–the world’s second largest economy
and the largest importer of metals.
A
rise in the dollar which has gained 9.1% in 2015, also weighed on
dollar-denominated metals, making them less appealing to buyers using
other monetary units.
Source: MarketWatch
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