Gold slides on possible rate hike in September

Source: WBP Online
© Scanpix/Reuters

The yellow metal slipped on Thursday, after FOMC statement pushed the US Dollar higher. The Dollar strengthened against its major counterparts, as investors speculate on the Fed's rate hike in September. The bullion futures declined 0.7% to 1,086 points by 7:00 AM GMT. Moreover, other dollar-denominated commodities followed the trend of gold and were lower early in the trading session.  

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