Yellow metal slips on strong dollar

LONDON — Gold prices hit a fourweek low on Wednesday as the dollar gathered strength on the prospect of a US interest rate hike. Investors are awaiting February non-farm payrolls data on Friday as a barometer of the US economy after Federal Reserve Chair Janet Yellen said last week that the central bank was poised to lift rates provided jobs and inflation data held up. These comments were seen as cementing plans for an increase at the Fed’s March 14-15 meeting. Spot gold fell 0.3 per cent to $1,211.81 per ounce at 1040 GMT, after touching its lowest since February 3 at $1,210.92, putting it on track for its fifth straight session in the red.