Precious Metals

Gold continuing consecutive string of losses

Weekly losses continue to mount in gold's performance as investors begin to dump holdings in funds backed by the metal.

Image courtesy of Wikimedia Commons.

Bloomberg News reports gold's performance is maintaining a string of consecutive weekly declines in price counting from early November. The stretch is gold's longest period of decline in more than a year.

The news comes amid indications the Federal Reserve may raise interest rates three times during calendar year 2017 after announcing a small rate hike the week before Christmas.

Investors, according to Bloomberg News, are selling their holdings in exchange-traded funds backed by the precious metal.

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