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Gold hovers below $1,250 after 3 days of losses

FXStreet (Córdoba) - Gold trades little changed just below $1,250 an ounce Thursday following three consecutive days of losses.

Gold prices have been under pressure lately and has lost nearly 3.0% so far in September, weighed by a stronger dollar amid prospects of a more hawkish Fed and easing tensions in Ukraine.

The yellow metal hit a fresh 3-month low of $1,243.79 Wednesday before stabilizing in a tight range, capped by the $1,250 area on the upside. At time of writing, gold spot is trading at $1,249 an ounce, virtually unchanged on the day.

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