WASHINGTON (dpa-AFX) - Gold futures dropped for a sixth straight session Wednesday, stung by bouyant stocks and the prospect of rate hikes from the Federal Reserve.
Fed officials are now talking two or three rate hikes by year's end amid confidence in the U.S. economy.
With gold's safe haven and inflation-hedge appeal diminished, prices have dropped to seven-week lows.
Gold for June delivery fell $5.40, or 0.4%, to settle at $1,223.80 an ounce.
Copyright RTT News/dpa-AFX