CUR - Gold futures tumble to two-month lows on strong dollar rate hike worries

Gold futures fell Monday to their lowest finish since late February, hurt by the prospect of aggressive policy tightening by the Federal Reserve and a stronger dollar. "Fears about rate hikes have gotten the upper hand as of late," Julius Baer analyst Carsten Menke told Reuters, adding that gold has become "rather expensive as a safe haven asset. June Comex gold (XAUUSD:CUR) closed -2% to $1,896/oz, the lowest finish for a most-active contract since February 25, while May silver (XAGUSD:CUR) ended -2.4% to $23.67/oz, its lowest settlement since February 16. ETFs: (NYSEARCA:GLD), (NYSEARCA:GDX), (IAU), (NUGT), (PHYS), (SGOL), (SLV), (SIVR), (PSLV) "In the depths of a true equity bear market, and now a broadening China lockdown also spreading, gold has not maintained safe-haven interest," Wolfpack capital's Jeff Wright told MarketWatch, noting gold is a non-interest bearing vehicle in an environment of rising U.S. Treasury yields. "Gold's inability to benefit from falling

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Gold futures tumble to two-month lows on strong dollar, rate hike worries