New Delhi, Sept. 2 -- Gold prices have remained under sustained pressure lately, giving up most of the gains accumulated in August as a sustained rise in the US dollar, coupled with concerns over accelerating inflation, boosted expectations of a Federal Reserve interest-rate hike, reducing the appeal of the safe-haven asset.

MCX gold prices have fallen 1.3%, or Rs.2,064 per 10 grams in Wednesday's trade, breaking below the Rs.1.5 lakh mark to hit the day's low of Rs.1,49,665. The decline marked gold's lowest level in more than three weeks and its seventh consecutive session of losses.

Considering today's low, the yellow metal has cumulatively dropped Rs.13,564 per 10 grams over the last six trading sessions (including today).

The renew...