Metals Stocks: Gold on track to suffer largest percentage decline in 6 weeks

Gold prices were on track Tuesday to log their steepest daily percentage drop in about six weeks, as data on retail sales and U.S. manufacturing came in better than expected and easing geopolitical tensions between North Korea and the U.S. undercut haven demand for the precious metal.

December gold GCZ7, -0.87% declined $14.20, or 1.1%, to $1,273.80 an ounce, after settling down 0.3% on Monday. A one-day fall of 1.1% for gold, based on the most-active contracts, would mark its sharpest percentage drop since July 7, according to FactSet data.

September silver SIU7, -2.61% tumbled 49.2 cents, or 2.9%, to trade at $16.63 an ounce, with the precious-and-industrial metal poised to log its worst single-session decline since July 7 and end lower for the first time in six sessions.

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