Gold slips as Fed rate-hike expectations buoy dollar

Gold extended losses on Wednesday, as bets on US interest rate hikes lifted the dollar, while investors assessed ​conflicting signals on the US-Iran peace talks. Spot gold ‌fell 0.5% to $4,087.68 per ounce by 0116 GMT, hitting its lowest level since June 11. U.S. gold futures for August delivery declined 1.1% ​to $4,105.40. The dollar hit a more than one-year high, ​making bullion more expensive for overseas buyers. US President ⁠Donald Trump said on Tuesday that Iran had agreed ​to nuclear inspections into “infinity,” while Tehran said it had made no such ​concession in negotiations, raising questions about the viability of their fragile peace deal. Traders are pricing in three interest rate hikes from the ​US Federal Reserve this year, according to the CME FedWatch ​Tool.