Gold Settles At Five-week Low As Fed Comments Feed Interest-rate Hike Expectations

By Myra P. Saefong Markets MarketWatch Pulse

Gold prices logged a second-straight session of losses Tuesday to settle at their lowest level since mid-May. Comments from Federal Reserve officials so far this week have supported expectations for further interest-rate hikes by the central bank this year, providing a lift to the U.S. dollar, and dulling gold's investment appeal. August gold fell $3.20, or 0.3%, to settle at $1,243.50 an ounce.

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