Gold Futures Give Back More Than Half Of Their Recent Gains

By Myra P. Saefong Markets MarketWatch Pulse

Gold futures retreated on Wednesday, giving back more than half of what they gained a day earlier when U.S. Federal Reserve Chairwoman Janet Yellen reiterated a cautious stance on interest-rate hikes. June gold lost $8.90, or 0.7%, to settle at $1,228.60 an ounce. The dollar-denominated metal gained $15.50, or 1.3%, on Tuesday as Yellen's remarks pressured the greenback .

Continue Reading Below

Copyright © 2016 MarketWatch, Inc.