Gold prices drop to 6 month low on strong dollar, US rate outlook
Spot gold fell 0.4 per cent to $1,262.88 an ounce by 0637 GMT. It hit its lowest since Dec. 20 at $1,261.36 earlier, having lost about 3 per cent over the last five sessions.
US gold futures for August delivery were down 0.8 per cent at $1,264.50 per ounce.
The dollar held near an 11-month high against a basket of currencies on Thursday, supported by a rise in US yields, while the pound was at its lowest level since November 2017 ahead of a Bank of England monetary policy decision.
A stronger greenback makes dollar-denominated gold