Gold Skids to Three-Month Low, As Higher Rates Loom

By Markets MarketWatch Pulse

Gold futures settled at more than three-month low Thursday on mounting expectations of an imminent U.S. interest-rate hike. Dallas Federal Reserve Bank President Robert Kaplan reiterated that the Fed should tighten the monetary policy as the economy continues to show signs of recovery while inflationary pressure has started to build, according to Reuters. June gold slipped $2.10, or 0.2%, to settle at $1,209.80, its lowest since Feb. 16.

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