Gold fell to a six-week low on Thursday as the dollar rose to a two-week high on expectations that the US Federal Reserve may raise interest rates as early as June. Spot gold fell 0.3 percent to $1,234.52 per ounce by 0724 GMT, after hitting its lowest since March 21 at $1,232.60 earlier in the session. It fell 1.5 percent on Wednesday - its worst single-day drop since November 23 - breaching both its 50-day and 200-day moving averages.

US gold futures fell more than 1 percent to $1,235.40 an ounce. The dollar index, which measures the greenback against a basket of currencies, was up 0.2 percent at 99.400 on Thursday, after touching a two-week high of 99.462. "With the safe-haven premium coming off gold, there was enough to break the camel's back. Any small rallies are going to get sold and gold is set for a deeper correction towards the $1,200 level," said Jeffrey Halley, senior market analyst at OANDA.

Copyright Reuters, 2017