Gold Futures Give Back More Than Half Of Their Recent Gains

By Myra P. SaefongMarketWatch Pulse

Gold futures retreated on Wednesday, giving back more than half of what they gained a day earlier when U.S. Federal Reserve Chairwoman Janet Yellen reiterated a cautious stance on interest-rate hikes. June gold lost $8.90, or 0.7%, to settle at $1,228.60 an ounce. The dollar-denominated metal gained $15.50, or 1.3%, on Tuesday as Yellen's remarks pressured the greenback .

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