Gold 'getting hit from all directions' now

London

EVERYTHING'S against gold at the moment.

Gold futures closed at the lowest level since February as the Federal Reserve gears up to raise rates, while US equities at record levels lure money out of havens and fund holdings wither. Assets in bullion-backed exchange-traded funds contracted for a 20th straight day as at Thursday, the longest stretch since May 2013.

The precious metal is ending 2016 on the ropes as investors price in the Fed's probable move this week, pushing bond yields higher amid the likelihood of further hikes in 2017. A gauge of the dollar has climbed since the US election, while the S&P 500 and the Dow Jones Industrial Average are at all-time highs amid speculation president-elect Donald Trump'…