Gold breaks the June lows after Yellen warns about a hike this year

A reminder from Fed Chair Janet Yellen that hikes are likely this year sent the US dollar broadly higher and quick pushed gold prices $7 lower to $1148.

As stops were hit, the low was $1145, which was narrowly below last week's low of $1147.50.

The level to watch now is the March low of $1142 followed by the 2015 low of $1130.