Bullion prices fell on Wednesday, 24 August 2016 at Comex. Gold futures fell Wednesday to log their lowest finish in about a month, as investors hope for clarity this week on the near-term path for interest rates.
December gold dropped $16.40, or 1.2%, to settle at $1,329.70 an ounce. December silver shed 37.7 cents, or 2%, to $18.688 an ounce.
Precious metals and the dollar have vacillated amid shifting expectations about the U.S. Federal Reserve's interest-rate policy, ahead of a closely watched retreat in Jackson Hole where Fed Chairwoman Janet Yellen will speak on Friday.
The dollar largely gained versus major rivals, leaving the ICE dollar index up 0.3%. U.S. stocks, meanwhile, traded mostly lower in the wait for the Fed's next clues. A firmer dollar tends to make the gold priced in this currency less attractive to investors. Higher interest rates can also turn investors away from nonyielding gold in favor of alternatives that typically fare better in a rising-rate climate.
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