Gold prices settle at an eight-week low

Gold prices dropped Tuesday to their lowest finish in about eight weeks. Strength in the U.S. dollar pressured prices for the metal, which is traded in the greenback. Growing expectations that the U.S. Federal Reserve will raise interest rates at its meeting next month also contributed to weakness for gold prices. June gold fell $11, or 0.9%, to settle at $1,216.10 an ounce. That was the lowest finish since March 15, according to FactSet data.

Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit MarketWatch.com for more information on this news.

…read more

From:: Stock Market News

Leave a Reply