Gold settles at five-week low as Fed comments feed interest-rate hike expectations

Gold prices logged a second-straight session of losses Tuesday to settle at their lowest level since mid-May. Comments from Federal Reserve officials so far this week have supported expectations for further interest-rate hikes by the central bank this year, providing a lift to the U.S. dollar, and dulling gold’s investment appeal. August gold fell $3.20, or 0.3%, to settle at $1,243.50 an ounce.

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