Gold Falls to Lowest Since January as Dollar Advances

Gold futures fell to the lowest since January as the outlook for higher U.S. interest rates and a stronger dollar cut demand for precious metals as hedges against inflation. Silver dropped to a four-year low.

Money managers cut their bullish gold wagers for six straight weeks, the longest exit in more than four years, government data show. Global holdings in exchange-traded products backed by the metal last week shrunk to the lowest since 2009 as prices move close to erasing their 2014 gain.