Gold Sinks Most in Two Weeks as Traders Await Fed Rate Guidance

Updated on
  • Yellen is scheduled to address meeting in Jackson Hole Friday
  • Probability of a rate hike in 2016 is 53%, up from 36% Aug. 1

Gold futures headed for the biggest drop in two weeks and mining stocks tumbled as traders pulled back bets before a speech by Federal Reserve Chair Janet Yellen on Friday that may give clues into the timing of U.S. interest-rate increases.

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