FXStreet (Córdoba) - Gold failed to sustain early gains and turned negative for the day, as the greenback strengthened across the board during the New York session, dragging the metal back below $1,080 an ounce. The yellow metal dropped to a low of below $1,076 an ounce, retracing previous day’s impressive gains. Gold prices remain under pressure amid prospects the Federal Reserve will raise rates at its next meeting, with the metal having posted a 5 ½-year low of $1,065 an ounce on Wednesday, from where it staged a comeback during the second half of the week. However, the recovery was limited by $1,088, now immediate resistance area to watch. For more information, read our latest forex news.