Gold extends losses on Fed tightening outlook, dollar strength

Gold prices tumbled to a seven-month low on Thursday, nearing $3,985 per ounce, as a robust dollar and anticipation of Federal Reserve interest rate hikes weighed heavily. S.

Traders are factoring in multiple rate increases this year, with a significant chance of a September hike. Investors are now keenly awaiting key U.

inflation data for further monetary policy direction.