GOLD FALLS TO NEW THREE-WEEK LOW

New York, – Gold prices fell today to a new three-week low ahead of the expected Federal Reserve’s decision to raise interest rates next June.

Spot gold was down 0.2% at $1,254.01 an ounce , having earlier hit $1,251.37 an ounce, the lowest since April 10. US gold futures were flat at $1,255.60 an ounce.

Gold on Monday fell 0.9% after US lawmakers agreed on a spending package to avert a US government shutdown and the Nasdaq share index reached a record high.

It has slipped 3% since a mid-April high and is hovering just above its 200-day moving average, currently at around $1,252 an ounce. (QNA)

Source: Qatar News Agency