Gold retreated from intraday highs on Tuesday as the dollar moved higher and a voting member of the U.S. Federal Reserve said he is ready to support an interest rate increase in September.
Platinum dropped to the lowest in 6-1/2 years and palladium to the lowest since late-2012 on oversupply and sluggish auto catalyst demand.
Gold prices fell from their highs after Atlanta Federal Reserve President Dennis Lockhart said it would take “significant deterioration” in the U.S. economy for him to not support a rate increase in September, according to the Wall Street Journal.
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