Spot gold was down 0.1% at $1,276.95 per ounce at 1.16pm. Photo: ReutersGold edged lower on Thursday as upbeat US economic data bolstered the possibility of the Federal Reserve raising interest rates next month and beyond. Spot gold was down 0.1% at $1,276.95 per ounce at 1.16pm, slipping from Wednesday’s 3-1/2-week high of $1,289.09. Gold has traded within a tight range of about $24 for the month of November. Higher interest rates tend to boost the dollar and push bond yields up, putting pressure on gold prices by increasing the opportunity cost of holding bullion.

Source: Mint November 16, 2017 11:03 UTC