Gold futures settle lower for the session, lose more than 2% for the month

Gold futures fell on Thursday to tally a loss of more than 2% for the month. The U.S. personal consumption expenditures index revealed an increase of 0.2% in July. That raised the prospect of further moves by the Federal Reserve to tame inflation and led to some strength in the U.S. dollar, which pressured dollar-denominated prices of gold. December gold
GCZ23,
-0.25%
fell $7.10, or 0.4%, to settle at $1,965.90 an ounce on Comex. For the month, prices based on the most-active contract lost 2.2%, according to Dow Jones Market Data.