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Gold Continues to Fall

Gold Continues to FallGold Continues to Fall

Gold fell on Friday and was on track for its first weekly decline, its worst since November, on growing expectations of a US rate hike as early as this month, Reuters reported. Spot gold dropped 0.3% to $1,231.31 per ounce after hitting a low of $1,229.05 earlier in the session. The metal has lost nearly 2.3% so far this week. US gold futures fell 0.1% to $1,231. Initial support for gold sits around $1,230, while below this it might move to the 100-day average of $1,210.

 

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