Gold falls on prospects of further rate hikes

CHICAGO, Aug. 31 (Xinhua) -- Gold futures on the COMEX division of the New York Mercantile Exchange fell on Wednesday as investors reacted to the prospects of further rate hikes.

The most active gold contract for December delivery fell 10.1 U.S. dollars, or 0.58 percent, to close at 1,726.2 dollars per ounce.

Gold dropped 3.1 percent in August.

In a speech to the Chamber of Commerce of Dayton, Ohio