Gold prices mark back-to-back declines – MarketWatch

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Gold prices fell on Monday for a second straight session. The precious metal “has recently been over-promoted as an inflation hedge,” said Adrian Ash, director of research at BullionVault. That’s created “disappointment and then pre-emptive selling among investors who fell for the idea that central banks are about to start tightening.” August gold GCQ21, -0.32% fell $5.80, or 0.3%, to settle at $1,809.20 an ounce.

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Myra P. Saefong, assistant global markets editor, has covered the commodities sector for MarketWatch for 20 years. She has spent the bulk of her years at the company writing the daily Futures Movers and Metals Stocks columns and has been writing the weekly Commodities Corner column since 2005.