Gold On 8 Week Low

Gold futures closed at an eight-week low Thursday as the dollar rallied on continued expectations that the Federal Reserve will raise interest rates and on news of the death of Iraqi militant Abu Musab al-Zarqawi.

Gold for August delivery gave up $18.80 at $613.80 an ounce on the New York Mercantile Exchange, marking its lowest finish since April 13 as losses extended into a fourth day.