Gold Slips Below $1270 As Signs Point To Rate Hike
WASHINGTON (dpa-AFX) - Gold futures fell further Thursday, hitting new 9-month lows as traders sifted through a pile of US economic data.
The Federal Reserve is expected to raise interest rates in December, barring a major disappointment in tomorrow's November jobs report.
Employment is expected to increase by 170,000 jobs in November after climbing by 161,000 jobs in October, while the unemployment rate is expected to hold at 4.9 percent.
Gold settled down $4.50, or 0.4%, at $1,169.40 an ounce.
The Institute for Supply Management released a report on Thursday showing a bigger than expected increase by its index of manufacturing activity.
Copyright RTT News/dpa-AFX