| On Wednesday on the Comex market in New York, gold futures with December delivery dates fell for a sixth session in a row giving to trade at a seven-week low. Exchanging hands for $1,107.00 an ounce in late afternoon trade, gold is down more than $75 an ounce or 6% from where it trading just before the Federal Reserve's interest rate announcement last week. Gold fell to a near five-year low of $1,085 in early August.
Fed Chair Janet Yellen testified before the House Financial Services Committee on Wednesday and echoed the language of the FOMC minutes which opened the door for a rate rise when the bank next meets in December. Yellen gave a positive reading of the employment and housing markets in the US further boosting rate hawks...............................................Full Article: Source
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