Gold prices decline

Reuters

Singapore

Gold fell for a second straight session on Wednesday, slipping further away from a 15-month high as the dollar steadied after recent sharp losses and as two Federal Reserve officials talked up U.S. interest rate hikes this year.

Spot gold had eased 0.4 percent to $1,281.10 an ounce by 0645 GMT, after dropping 0.4 percent in the previous session.

U.S. gold futures dropped 0.7 percent to $1,283.40, falling for a second straight session after a six-day rally.

Earlier this week, gold prices had climbed to $1,303.60, its highest since January 2015, after the dollar slumped against the yen. 

"The difficulty gold is experiencing in staying above $1,300 does not necessarily mean the bull rally is ending. But the rally may be tired and in need of consolidation.  This can trigger profit-taking," said HSBC analyst James Steel.