Gold settles at month-low

Gold settles at month-low

Mubasher: Gold prices declined on Friday to settle at its lowest level in a month.

A strong performance by the US dollar supported by the Federal Reserve commitment to raise interest rates led to a fall in the precious metal price.

Gold futures for December delivery fell by $16.50, or 1.3%, to settle at $1,208.60 per ounce, its lowest closing point since 10 October.

The yellow metal is down 2% for the week.