Gold Settles Lower As Accelerated Fed Hike Pace Prospects Rise

By Wallace Witkowski Markets MarketWatch Pulse

Gold prices settled lower Monday as Italian voters rejected constitutional reforms as expected and prospects that the Federal Reserve may tighten monetary policy at an accelerated pace rose. Gold for February delivery declined $1.30, or 0.1%, to settle at $1,176.50 an ounce. Meanwhile, silver for March delivery settled up 6.7 cents, or 0.4%, at $16.90 an ounce.

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