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Gold prices drop to six-month low on strong dollar, rate outlook

Updated : June 21, 2018 12:25 PM IST

Gold prices posted a six-month low on Thursday, pressed down further by a firm dollar and as the US Federal Reserve Chair confirmed an outlook for higher interest rates in the United States.
Spot gold fell 0.2 percent to $1,265.72 an ounce by 0343 GMT. It hit its lowest since Dec. 21 at $1,264.21 earlier, having lost nearly 2.8 percent over the last five sessions.
US gold futures for August delivery were down 0.5 percent at $1,267.50 per ounce.
Gold prices drop to six-month low on strong dollar, rate outlook
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