Gold wilts as investors zero in on rising chance of March hike

Gold extended its losing streak to a third day on a surge in investors’ expectations that US central bankers may hike interest rates as soon as this month, buoying the dollar and undercutting demand for the metal. Bullion for immediate delivery tumbled as much as 0.5% to $1 242.54 an ounce and traded at $1 244.28 at 11:32 a.m. in London, according to Bloomberg generic pricing. That followed a 0.3% loss on Tuesday and 0.4% drop on Monday, paring the metal’s gain this year to 8.5%.