Published December 15, 2016 1:55pm EST | Updated December 15, 2016 2:03pm EST

Gold Futures Settle Nearly 3% Lower On Fed-induced Dollar Rally

Gold futures dropped nearly 3% Thursday to settle at their lowest level since early February as the Federal Reserve's U.S. interest-rate hike and the potential for more aggressive moves in the new year fueled a rally in the dollar. February gold fell $33.90, or 2.9%, to settle at $1,129.80 an ounce.