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Gold futures drop back to lowest finish since December

Gold futures dropped Monday, giving again their modest upward push in the previous session to return to their lowest finish since December. "The excuse for gold being down so much starts with the dollar, but I suspect there are some gold bulls throwing in the towel, which may be exacerbating gold's weakness," mentioned Michael Armbruster, managing partner at Altavest. August gold GCQ8, -1.00% misplaced $12.80, or 1%, to settle at $1,241.70 an oz.. That was once the lowest finish for a most-active contract since Dec. 12, according to FactSet information.