Gold falls further to fresh 3-month lows

Gold prices extended their declines on Tuesday as a stronger US dollar continued to weigh on commodity prices.

Spot gold dropped over $4 or % to a 3-month low of $1,267 an ounce during the New York session. It was last trading around $1,270. The metal has fallen for six days in a row, losing over 5% over that period.

Gold prices have been under pressure mainly driven by strength in the US currency.  USD has picked up momentum amid supportive economic data and higher expectations of a rate hike by the Fed.