Gold drops nearly 2% as U.S. dollar, equities gain – Metals Stocks – MarketWatch

By Myra P. Saefong and Shawn Langlois, MarketWatch

SAN FRANCISCO (MarketWatch) – Gold futures dropped nearly 2% on Thursday as a stronger US. dollar and a climb in equities lured investors away.

News of a contraction in Chinese factory output in January contributed to gold’s losses.