Gold Futures Log Biggest One-day Loss Of The Year, But Hold Above $1,200 An Ounce

By Myra P. SaefongMarketsMarketWatch Pulse

Gold futures settled lower on Thursday, with their largest one-day dollar and percentage loss of the year so far, as the U.S. dollar strengthened. The European Central Bank left interest rates unchanged as expected and U.S. Federal Reserve Chairwoman Janet Yellen on Wednesday said the Fed expects a few rate hikes a year until 2019, providing support for the greenback-in turn pressuring prices for dollar-denominated gold. February gold lost $10.60, or 0.9%, to settle at $1,201.50 an ounce.

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