Gold Declines 0.4%, Sealing First Monthly Loss Since May

Gold futures settled lower on Wednesday, helping push the precious metal to its first monthly decline since May, underscoring a broad slide in the metals complex in August. Gold for December fell $5.10, or 0.4%, to settle at $1,311.40 an ounce on Wednesday, for a 3.4% decline over the month of August. Silver for December delivery rose 3 cents, or 0.2%, to settle at $18.71 an ounce, but over the month of August the price of the most-active contract dropped 8.1%. Similarly, prices for copper, platinum, and palladium all declined over August.