PRECIOUS-Gold slips to 4-week low on Fed rate hike expectations

Reuters – LONDON, March 7, 2017
Gold hit a more than four-week low on Tuesday as the dollar strengthened and expectations for a U.S. interest rate hike this month weighed, though moves were muted ahead of key U.S. data this week. The precious metal has fallen in five out of the last six sessions as expectations for the Federal Reserve to push ahead with a U.S. rate increase this month ramped up. Spot gold was down 0.7 percent at $1,216.95 an ounce at 1445 GMT, having earlier touched its lowest since Feb. 3 at $1,216.19 an ounce. U.S. gold futures for April delivery were down $8.00 an ounce at $1,217.50.

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