Gold Dropped As Investors Braced For A Widely Expected U.S. Interest Rate Increase

Gold trading range for the day is 27875-28501.

Gold dropped as investors braced for a widely expected U.S. interest rate increase and looked for clues about further hikes from the Federal Reserve.

Strong U.S. wholesale price figures kept the Fed on track for a widely-expected rate rise this week and more in 2018.

U.S. producer prices climbed in November as gasoline prices surged and the cost of other goods increased, leading to the largest annual gain in nearly six years.

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