Gold futures fell for a second straight session on Tuesday, settling at their lowest over four weeks. The U.S. dollar continues to “catch a big tailwind from rising U.S. interest rates, with the 10-year Treasury yield soaring toward 3.45%” ahead of Wednesday’s Federal Reserve decision on rates, said Colin Cieszynski, chief market strategist at SIA Wealth Management. Gold may remain active through the Fed meeting and a retest of $1,785, where the precious metal bottomed out in May, “remains a possibility, with next potential support if that fails closer to $1,760,” he said. August gold fell $18.30, or 1%, to settle at $1,813.50 an ounce, the lowest most-active contract finish since May 13, FactSet data show.
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