Gold
futures fell for the second straight day as gains in the U.S. economy
boosted speculation that the Federal Reserve will raise interest rates
soon.
Retail
sales in November jumped the most in eight months, and the number of
Americans filing for unemployment benefits fell to a three-week low,
government reports showed today. The dollar and the Standard & Poors
500 Index of stocks rose, eroding the appeal of gold as an alternative
investment. Yesterday, the metal dropped 0.2 percent.
On
Dec. 9, gold reached a six-week high as global equities tumbled,
increasing demand for a haven. Swings in oil prices have boosted
volatility in the metal as investors weigh muted inflation. Fed
officials will meet next week to discuss the timing of the first
benchmark rate increase since 2006.
Gold
futures for February delivery fell 0.3 percent to settle at $1,225.60
an ounce at 1:48 p.m. on the Comex in New York. Two days ago, the price
reached $1,239, the highest since Oct. 23.
Source : Bloomberg
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