Gold futures declined on Wednesday as the dollar trended higher against a basket of major currencies. Furthermore, growing speculation about US interest rate hikes happening sooner than expected also weighed on the precious metal price.
Gold futures for December delivery settled down $3.90 at $1,159.10 an ounce on the Comex division of the New York Mercantile Exchange. While spot gold fell 0.5 percent at $1,158.40 an ounce.
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