Gold edged lower on Wednesday, hovering around a 5-1/2-year low as the dollar strengthened after comments from a Federal Reserve official added weight to the likelihood of a U.S. interest rate hike as early as next month. Atlanta Federal Reserve President Dennis Lockhart said it would take “significant deterioration” in the U.S. economy for him to not support a rate hike in September, according to the Wall Street Journal. Higher interest rates in the United States would increase the opportunity cost of holding gold, an asset that does not earn interest.