Gold price continues to fall

Singapore (Nov 20)  Gold prices eased on Friday after touching their lowest in over five months the session before, dragged down by a stronger U.S. dollar and after Federal Reserve Chair Janet Yellen bolstered the case for raising interest rates next month.

Spot gold had slipped 0.2 percent to $1,213.75 an ounce by 0036 GMT. In the previous session, it marked its lowest since June 3 at $1,210.73, remaining on track for its second straight weekly decline. U.S. gold futures were down 0.3 percent at $1,213.40 per ounce.

The dollar rose to a 13-1/2-year high against a basket of currencies on Thursday as the bond market resumed its sell-off on growing certainty of a U.S. interest rate increase in December.

The election of Donald Trump as U.S. president has done nothing to change the Fed´s plans for a rate increase "relatively soon", the Fed´s Yellen said on Thursday in Congressional testimony.

Source: InternaationalTHE-NEWS