Gold Futures Log a Three-week Low

By Myra P. SaefongMarketsMarketWatch Pulse

Gold futures settled with a loss on Thursday, at their lowest level in roughly three weeks. Minutes from the U.S. Federal Reserve’s April meeting released late Wednesday suggested that the central bank was open to raising interest rates in June. Higher rates can boost the dollar and weigh on dollar-denominated prices for gold. June gold dropped $19.60, or 1.5%, to settle at $1,254.80 an ounce on Friday.

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