Gold futures fall 1.5% for biggest single-session loss since August

Gold futures on Thursday suffered from their largest single-session decline since August, pulling back after posting gains in each of the last three sessions and settling at a 10-month high a day earlier. "Gold was due for a correction as the current rally was getting very extended," Michael Armbruster, managing partner at Altavest, told MarketWatch. Prices declined after minutes from the Federal Reserve’s January policy meeting released Wednesday were seen as more hawkish than anticipated. April gold lost $20.10, or 1.5%, to settle at $1,327.80 an ounce. That was the largest one-day dollar and percentage loss for a most-active contract since Aug. 13, according to FactSet data.

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