LONDON — Gold fell on Tuesday as the dollar advanced after US Federal Reserve Chair Janet Yellen said the central bank will likely need to raise interest rates at an upcoming meeting with the economy expanding further.The Federal Reserve chair struck a more hawkish tone than investors had expected, although she did flag considerable uncertainty over economic policy under the new Trump administration. US President Donald Trump’s national security adviser Michael Flynn resigned on Tuesday over revelations that he had discussed US sanctions against Moscow with the Russian ambassador before Trump took office."Yellen is trying to nudge the expectations for a rate hike in March higher. This doesn’t mean they will move in March, but the Fed wants to have the option to move," said Omer Esiner, chief market strategist at Commonwealth Foreign Exchange Inc.Gold is highly sensitive to climbing US interest rates, which increase the opportunity cost of holding non-yielding bullion while boosting ...
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