Gold Under $423, Fortnight Lowest Level

US gold futures tumbled Thursday, ending at their lowest level in two weeks, continuing to play off action in the foreign-exchange market.

TheBullionDesk.com analyst James Moore explained that the further advances by the US dollar against the euro have pressured the precious metals. The dollar hit a two-month high against the euro Thursday, helped by expectations that Federal Reserve officials will continue to signal rising U.S. interest rates.

February delivery gold lost 70 cents to trade at $422.60 an ounce on the New York Mercantile Exchange?s COMEX division. It tapped a low of $420.30 earlier, its worst intraday level since Jan. 10.

However, some analysts expect near dollar weakening, which will raise gold price as usual.