Gold set for fourth monthly fall on bets of Fed rate hikes

Spot gold declined 1.5% to $3,957.74 per ounce, heading for a monthly fall of 12.7% as traders priced in about a 63% chance of a Fed rate hike in September. U.S. gold futures lost 1.7% to $3,971.60, supported by a stronger dollar. Silver, platinum, and palladium also posted monthly losses of 2.4%, 1.1%, and 0.5% respectively.