Gold futures fell, snapping the longest rally since February, on speculation that the Federal Reserve will further curb U.S. monetary stimulus, damping demand for the precious metal as an alternative investment.
Gold futures fell, capping the biggest weekly drop since September, after a U.S. equity rally and signs of easing tensions in Ukraine curbed demand for the precious metal as a haven. Silver dropped to an 11-month low.
Copper futures fell for the first time in four sessions as slackening factory output raised concern that demand will ebb in China, the world’s top consumer. Nickel rose to the highest since February 2012 in London.
Increasing demand for U.S. silver coins was poised to send premiums to the highest since October even as banks including Goldman Sachs Group Inc. predicted more declines in futures after the biggest annual slump since 1981.