Gold set for worst month since September on Fed rate-hike prospects

GOLD prices fell on Monday and were set for the biggest monthly drop since last September, as markets anticipated higher rate hikes by the U.S. Federal Reserve on the back of key economic data, while a stronger dollar put further pressure on bullion.

Spot gold was down 0.3% at $1,786.26 per ounce, as of 0428 GMT, taking its monthly drop to more than 2%.