Gold dropped 0.8 percent to USD 1,281.04 an ounce after reaching USD 1,278.45, the lowest since June 19, and a fifth day of losses would be the longest such run since June 2.
Gold today fell to a two-month low in the longest run of declines since June on the outlook for higher US interest rates that strengthened the dollar.
Gold dropped 0.8 percent to USD 1,281.04 an ounce after reaching USD 1,278.45, the lowest since June 19, and a fifth day of losses would be the longest such run since June 2.
Silver also fell 0.7 per cent to USD 19.35 an ounce, after reaching USD 19.31, the lowest since June 12. Many US policy makers raised the possibility they may boost rates sooner than anticipated, minutes of the Fed's July meeting showed yesterday.
The dollar climbed against 10 major currencies after the minutes, and was little changed after reaching a six-month high today. Futures traders are seeing more chance of rising interest rates by the middle of next year.
Fed Chair Janet Yellen will provide her take on the latest data on labour markets in a speech tomorrow at a meeting of central bankers in Jackson Hole, Wyoming.
Also read: New Cos Act compliant gold scheme coming soon: Titan
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