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Urgent: Gold futures settle nearly 3 percent lower on Fed-induced dollar rally

Xinhua, December 16, 2016 Adjust font size:

Gold futures on the COMEX division of the New York Mercantile Exchange dropped nearly 3 percent Thursday as the Federal Reserve's U.S. interest-rate hike and the potential for more aggressive moves in the new year fueled a rally in the dollar.

The most active gold contract for February delivery fell 33.9 U.S. dollars, or 2.91 percent, to settle at 1,129.80 dollars per ounce. Enditem