Daily Gold Update

Source: Marketwatch

New York— Gold futures fell Monday to end below $1,100 an ounce for the first session in more than six weeks, on increasing speculation of an eventual interest-rate hike, curbing inflation expectations and reducing gold's investment appeal. Meanwhile, the dollar strengthened against most of its major rivals, weighing on dollar-denominated commodities prices.

Raising speculation of an interest-rate hike, several U.S. reports this week, including home sales, consumer spending and jobless claims, are expected to show the economic recovery is gaining steam. The third-quarter gross domestic product, which might be revised down slightly, is still expected to show the economy remains on the mend. Gold for December delivery fell $15.40, or 1.4%, to end at $1,095.40 an ounce on the Comex division of the New York Mercantile Exchange, ending below the $1,100 level for the first time since Nov. 6. The more actively traded February contract slid $15.50, or 1.4%, to $1,096. See full story.