Gold prices have risen, but they are heading for a second annual loss in a row, as the Federal Reserve's significant interest rate hikes have diminished the appeal of the non-yielding metal. Spot gold contracts increased by 0.22% to $1,818.66. Meanwhile, U.S. gold futures fell by 0.1% to $1,824.56, according to Bloomberg data. Gold is aiming for an annual decline of 0.6% as the U.S. dollar emerges as a preferred safe haven amidst the substantial interest rate increases by the Federal Reserve.
Title: Gold Heads Towards Second Consecutive Annual Loss
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