Gold Prices Decline, Hit Three-Month Lowest
Gold prices fell today to nearly three-month lowest, amid growing expectations that the Federal Reserve (the US central bank) would maintain high interest rates for a longer period, a sentiment reinforced by rising oil prices and strong US economic data.
In the spot market, gold dropped 0.1 percent to USD 1,981.69 per ounce, marking its lowest level since August 3. For the week, the metal has shed 3.4 percent, representing its steepest weekly decline since June.
Meanwhile, US gold futures for December delivery fell 0.6 percent to USD 1,993.70. (QNA)
Source: QNA
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