MTECHTIPS;-Gold falls as dollar strengthens on Fed rate hike comments

MTECHTIPS-Gold fell on Tuesday to its lowest in more than a week, as the dollar rallied after comments from US Federal Reserve Vice Chair Richard Clarida bolstered expectations that the central bank would continue raising interest rates. Spot gold fell 0.6 percent to $1,214.64 per ounce at 1:54 p.m. EST (1854 GMT). During the session it touched its lowest since November 15 at $1,211.36. US gold futures settled down $9, or 0.7 percent, at $1,213.40. "Clarida softened gold with body blows and the stronger dollar on the back of consumer confidence (data) just delivered a left hook," said Tai Wong, head of metals trading at BMO The dollar gained after Clarida said the central bank should continue to gradually raise interest rates, but it was "especially important" to monitor economic data as monetary policy was getting close to a neutral stance

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