Gold Settles At Lowest Price In 7 Weeks

By Myra P. Saefong Markets MarketWatch Pulse

Gold prices dropped Thursday to settle at their lowest level since mid-March. A report from the World Gold Council showing sizable declines in global gold investment and central bank demand, along with expectations that the Federal Reserve is on track to raise interest rates at a gradual pace pressured prices. June gold lost $19.90, or 1.6%, to settle at $1,228.60 an ounce.

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