New York gold futures fell 3% to $4,189.40 at seven-week low

New York gold futures dropped 3% to $4,189.40 on Sept. 28, a seven-week low, the Wall Street Journal reported. Stronger bets on Federal Reserve rate hikes lifted yields and the dollar, raising the cost of holding gold, which pays no interest. For savers, it is a reminder that rate expectations can move hard assets fast.