Gold declines on Fed member comments

Source: CNBC
© ScanPix/Reuters
The yellow metal dropped on Wednesday after the Fed voting member Dennis Lockhart showed his support for a rate increase in September. Bullion fell 0.38% to $1,086.20 by 11:26 AM GMT, after recovering from session lows of $1,083.30. Ahead in the day, the US ADP employment figure is expected, which could put the Fed closer to the start of policy normalization and add more pressure on gold. 
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