Gold Settles Lower As Fed's Rosengren Raises Specter Of Early Rate Hike

Gold futures fell for a second session to close lower on Monday as the latest comments from a Federal Reserve official appear to negate the central bank's relatively dovish stance. Boston Fed President Eric Rosengren said at a conference that the Fed could tighten monetary policy earlier than expected given the steady pace of economic recovery. Chairwoman Janet Yellen last week had stressed the need for the central bank to approach future rate hikes with caution. June gold fell $4.20, or 0.3%, to settle at $1,219.30 an ounce.