| Gold held near a three-month low on growing expectations that the Federal Reserve will increase interest rates in December. Odds that the central bank will raise rates next month have climbed to 66 percent, from 39 percent a month ago, according to Fed-fund futures data. A gauge of the dollar rose on Tuesday to the highest since at least 2005, curbing the appeal of bullion as an alternative asset.
Gold posted the biggest weekly drop in a year on Friday after a report showing U.S. payrolls surged in October, boosting the case for the Fed to raise rates. Chicago Fed President Charles Evans said on Tuesday he’d like the central bank to get back to a point where the federal funds rate is “trading comfortably at its neutral rate well above zero.”..............................................Full Article: Source
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