WASHINGTON (dpa-AFX) - Gold futures continued to fall Monday as stocks zoomed to fresh record highs, denting the precious metal's safe haven appeal.
With risk appetite soaring, Dec. gold was down $14.40, or 1.1%, to settle at $1,310.80/oz. Gold has dropped five sessions in the past six.
Traders expect a relatively hawkish statement from the Federal Reserve in its interest rate decision Wednesday.
Reflecting concerns about the recent hurricanes, the National Association of Home Builders released a report on Monday showing a bigger than expected drop in U.S. homebuilder confidence in the month of September.
The report said the NAHB/Wells Fargo Housing Market Index dropped to 64 in September from a downwardly revised 67 in August.
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