Gold prices dropped after strong U.S. economic data lifted the dollar and underlined expectations that U.S. interest rates would be hiked.
Fed will need to raise U.S. interest rates further to keep the economy on track to full employment and the Fed’s 2-percent inflation goal, Fed’s George said.
Expectations of monetary tightening were also supported by Fed’s Harker saying he was still penciling in one more rate hike this year and three next years.
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