Gold settles at more than 3-month low as Fed official reiterates hawkish view

Gold futures settled at a more than three-month low on Thursday as consensus for an imminent interest-rate hike solidified on the back of comments from a Federal Reserve official who stressed the need for an early rate increase.

Dallas Federal Reserve Bank President Robert Kaplan reiterated his belief that the Fed should move quickly to raise rates as the economy is showing signs of sustained recovery while inflation is accelerating, Reuters reported.

June gold GCM6, +0.20%  fell $2.10, or 0.2%, to settle at $1,209.80 an ounce on Comex, its lowest settlement since Feb. 16.

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