NEW YORK (MarketWatch) -- Gold futures fell 2.1% Wednesday to end at their lowest level in two months, pacing losses in other commodities as slumping oil prices reduced the metal's appeal as a hedge against inflation.
Crude fell for a sixth straight session Wednesday, marking the longest losing streak since December after the U.S. regulator said Tuesday it will hold a series of hearings this summer on whether to limit investor positions in commodities futures markets.
On the Comex division of the New York Mercantile Exchange, August gold lost $19.80 to $909.30 an ounce, the lowest settlement for a front-month contract since May 5.
