Gold Settles At Three-week Low As Fed Interest-rate Hike Lifts The Dollar

By Myra P. Saefong Markets MarketWatch Pulse

Gold prices settled at their lowest level in three weeks on Thursday, as the U.S. dollar strengthened in the wake of the U.S. Federal Reserve's decision Wednesday to raise interest rates. August gold fell $21.30, or 1.7%, to settle at $1,254.60 an ounce. That was the lowest finish for a most-active contract since May 24, according to FactSet data.

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