Gold Turns to Losses Despite Dollar’s Decline

Gold prices closed modestly lower on Wednesday for the second time in three sessions, despite a mostly negative performance by the U.S. Dollar (USD).

An improvement in risk appetite and rising stocks limited the demand for the yellow metal as a safe haven investment after a slew of mixed economic data.

Gold futures lost $1.90, or 0.10%, to close at $1,813.10 per ounce.

Gold scored its second consecutive monthly rise in August with a limited increase of 0.13% but remained lower year-to-date by about 4%.