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Gold Continues To Drift Lower

Gold futures were lower Thursday morning, extending significant losses from earlier in the week.

A strong dollar and rising treasuries have driven gold to the lowest of the year.

Also, the Federal Reserve is widely expected to raise interest rates at least two more times by year's end. A modest rate hike is expected for June.

June gold was down $4 at $1287 an ounce.

The Conference Board's Leading Indicators for April is scheduled at 10.00 am ET. The consensus is for 0.4 percent versus 0.3 percent in the prior month.

Minneapolis Federal Reserve Bank President Neel Kashkari will participate in a moderated Q&A with Julie Gugin, the executive director of the Minnesota Home Ownership Center, in Minnesota, with audience Q&A at 10.45 am ET.

Dallas Federal Reserve Bank President Robert Kaplan will participate in a moderated Q&A at the Richardson Chamber of Commerce in Richardson, Texas, with audience and media Q&A at 1.30 pm ET.

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