WASHINGTON (dpa-AFX) - Gold prices drifted lower on Wednesday and the dollar gained in strength and Treasury yields moved up amid uncertainty about the size of interest rate hikes by the Federal Reserve in the coming months.
The dollar index, which dropped to 103.85 around mid morning, climbed to 104.47 a little before noon, and was last seen at 104.35, up 0.16% from the previous close.
Gold futures for February, which rose to a six-month high on Tuesday, ended with a loss of $7.30 at $1,815.80 an ounce.
Silver futures for March ended down $0.377 at $23.840 an ounce, while Copper futures for March settled at $3.8425 per pound, up $0.0020 from the previous close.
In U.S. economic news today, a report released by the National Association of Realtors unexpectedly showed a continued slump in U.S. pending home sales in the month of November.
NAR said its pending home sales index tumbled by 4% to 73.9 in November after plunging by 4.7% to a revised 77.0 in October. Economists had expected pending home sales to increase by 0.6%.
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