Gold futures suffered a hefty drop on Thursday, to settle at their lowest since early August. Renewed optimism about a near-term, partial U.S.-China trade agreement stirred a rise in debt yields and the U.S. stock market, dulling the appeal of precious metals. December gold GCZ19, -1.76% dropped $26.70, or 1.8%, to settle at $1,466.40 an ounce. That was the lowest most-active contract finish since Aug. 2, according to FactSet data.