Gold price near five-year low amid looming US rate decision
London (Nov 13) Gold traded near a five-year low as investors sold bullion-backed funds amid expectations the US will raise interest rates this year, damping the appeal of the metal.
Gold slid as much as 0.4 per cent and traded down 0.1 per cent at $1,083.85.
Yesterday, it reached $1,074.25, the lowest since February 2010, and is down for 11 of the past 12 days.
Spot silver slid 7 cents to $14,24, while platinum plunged $7 to $866 and palladium fell $2 to $541.