Gold Extends Weakness As Dollar Rises On Rate Hike Bets

India, Sept. 22 -- Gold prices dropped on Tuesday, extending recent weakness, as the U.S. dollar firmed up as comments from several Fed officials suggested the central bank will keep interest rates higher for longer.

Investors also closely followed the developments on the geopolitical front.

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The dollar index climbed to 100.70 before easing to 100.60, still up 0.17% over previous close.

Gold futures for December were at $4,375.00 an ounce, down $8.90 or about 0.2%, from previous close.

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Published by HT Digital Content Services with permission from RTT News....