Gold suffered for back-to-back losses Wednesday, dragged lower as trade tensions between the U.S. and China intensified, raising concerns over demand for industrial metals and sending copper prices to their lowest finish in almost a year. August gold lost $11, or 0.9%, to settle at $1,244.40 an ounce, so far tracking about a 0.3% week-to-date loss. The settlement was the lowest since July 2 for a most-active contract. The popular fund tracking gold, the SPDR Gold Shares was 0.9% lower. Gold has mostly been in a downtrend that has caused investors and technical analysts to maintain a bearish outlook for the asset that should ordinarily prosper during times of uncertainty, including around the trade disputes between the U.S. and its partners across the globe. However, the haven asset has shed some of its usual flight-to-safety luster so far. (source: marketwatch)