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Gold at 6-week lows, heads for September loss at hands of resurgent dollar

September 28, 2018

Gold futures prices fell Friday, leaving the metal languishing at six-week lows and headed for a roughly 1.7% loss for September.

Gold had markedly dropped a day earlier as the dollar index deepened its advance, seen after theFederal Reserve this week lifted federal-funds rates for the third time this year and signaled it was prepared to increase again in December. The ICE U.S. dollar index DXY, +0.33% was up 0.3% Friday and headed for 0.6% September gain owed to the late-month move.

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