Gold futures slide to lowest close in 3 months

Gold futures on Friday logged an eighth-straight daily drop, losing about 3% for the week to settle at a three-month low, as continued strength in the U.S. dollar helped push prices for the metal toward lows last seen in late February.

Prices continued to fall as U.S. Federal Reserve Chairwoman Janet Yellen, during an interview that began shortly before the gold futures settlement, said an interest-rate increase could be appropriate in the coming months.

June gold GCM6, -0.95%  fell $6.60, or 0.5%, to settle at $1,213.80 an ounce. The settlement was the lowest since Feb. 22, according to FactSet data based on the most-active contracts.

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