Gold Price Slips

December 3, 2017

Bengaluru-India (Dec 3)  Gold close to a one-week low hit in the previous session, pressured by upbeat U.S. growth data for the third quarter and Federal Reserve chair Janet Yellen´s bullish view of the economy.

A lack of clear drivers has kept gold between $1,265 and $1,300 an ounce throughout November, its narrowest monthly range in 12 years.

Despite the volatility overnight, it was another subdued session across the precious complex today in Asia, with gold struggling above $1,285 an ounce consistently, MKS analyst Alex Thorndike said in a note.

Spot gold was little changed at $1,283.95 an ounce at 0444 GMT. On Wednesday, it fell 0.8 percent to touch its lowest since Nov. 22 at $1,281.90. Still, bullion is heading for its first monthly gain since August, having risen 1 percent for the month. U.S. gold futures were up 0.1 percent at $1,283.10.


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