Gold down for 4th day as Fed warns it may hike rates in June

Gold futures settled lower Monday for a fourth session in a row, as the expectation that the Fed could raise interest rates as soon as next month drove precious-metals prices to their lowest levels since late April.

June gold GCM6, -0.46%  fell by $1.40, or 0.1%, to settle at $1,251.50 an ounce, with prices logging their lowest settlement since April 27. Last week, gold futures lost about 1.6%.

A host of Fed speakers this week is expected to reaffirm a higher-rate stance as the lineup includes noted policy hawks who have already expressed their concerns that ultralow U.S. rates risk remaining in place for too long if the economy continues to show signs of improvement.

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