Gold Prices Fall to Lowest Point of Month
Trade gold futures on the COMEX division of the New York Mercantile Exchange closed at its lowest price since October 11 on Tuesday (Wednesday morning GMT ) , as the U.S. Federal Reserve official said the central bank would withdraw its bond purchases in early December .
The most active gold contract for December delivery dropped 9.9 dollars, or 0.77 percent, to settle at 1271.2 dollars per ounce , such as reported by Xinhua news agency .
Dallas Fed President Richard Fisher urged the market to prepare for the withdrawal of quantitative easing stimulus in an interview with CNBC .
Atlanta Fed President Dennis Lockhart said in an interview with Bloomberg Radio that the reduction in the Fed's bond-buying stimulus " could very well executed " in December .
Minneapolis Fed President Narayana Kocherlakota also said in his speech that the central bankers will look at more prospects in considering the reduction of bond purchases .
While Fed officials acknowledge the possibility of early withdrawal in bond purchases . They also said that low interest rates in the U.S. will continue until next year , which will be a long -term boost for gold , analysts said the market .
While silver prices for December delivery fell 50.4 cents, or 2.37 percent , to close at 20.778 dollars per ounce .
Platinum for January delivery rose 7.2 dollars , or 0.5 percent , to close at 1439.6 U.S. dollars per ounce .
Trade gold futures on the COMEX division of the New York Mercantile Exchange closed at its lowest price since October 11 on Tuesday (Wednesday morning GMT ) , as the U.S. Federal Reserve official said the central bank would withdraw its bond purchases in early December .
The most active gold contract for December delivery dropped 9.9 dollars, or 0.77 percent, to settle at 1271.2 dollars per ounce , such as reported by Xinhua news agency .
Dallas Fed President Richard Fisher urged the market to prepare for the withdrawal of quantitative easing stimulus in an interview with CNBC .
Atlanta Fed President Dennis Lockhart said in an interview with Bloomberg Radio that the reduction in the Fed's bond-buying stimulus " could very well executed " in December .
Minneapolis Fed President Narayana Kocherlakota also said in his speech that the central bankers will look at more prospects in considering the reduction of bond purchases .
While Fed officials acknowledge the possibility of early withdrawal in bond purchases . They also said that low interest rates in the U.S. will continue until next year , which will be a long -term boost for gold , analysts said the market .
While silver prices for December delivery fell 50.4 cents, or 2.37 percent , to close at 20.778 dollars per ounce .
Platinum for January delivery rose 7.2 dollars , or 0.5 percent , to close at 1439.6 U.S. dollars per ounce .
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