Gold drops as dollar rises on Fed's upbeat economic view (Reuters)

The dollar index rose to a more than one-week high against its rivals after the Fed signalled on Wednesday it expected the U.S. economic recovery from the coronavirus crisis to accelerate, with unemployment falling faster than the central bank’s forecast in June.

Meanwhile, the Bank of Japan kept monetary policy steady and slightly upgraded its view on the economy, suggesting that no immediate expansion of stimulus was needed to combat the coronavirus pandemic.

https://www.reuters.com/article/idUSKBN2680DS