Gold Drops Below $1,300 to Lowest Since June on Fed Rate ConcernBy and
Fed’s Mester says U.S. economy is ripe for a rate increase
UBS sees Fed tightening monetary policy at December meeting
Gold plunged the most in almost three years, falling below $1,300 an ounce for the first time since June amid mounting concern that an improving U.S. economy will push the Federal Reserve to boost interest rates soon. Shares of gold-mining companies also declined.
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