Gold extends losses on Fed tightening outlook, dollar strength (opens original article in a new tab)

Gold prices extended losses on Thursday, hitting a seven-month low as the dollar strengthened and expectations of Federal Reserve interest rate hikes increased.

• Gold prices fell to a seven-month low due to expectations of Fed rate hikes and a strong dollar
• U.S. gold futures declined by 0.2%
• Traders expect three Fed rate hikes this year with a 67% chance of a September increase