Gold Market Update : Epic Research Singapore

Gold futures slumped Monday to their lowest settlement in a month, with precious metal remaining under pressure after the Federal Reserve last week surprised investors by hinting at a rate rise as early as next month.

Higher rates can be a headwind for commodities like gold that don’t bear interest.

December gold GCZ5, -0.07%  fell $5.50, or 0.5%, to settle at $1,135.90 an ounce, marking gold’s lowest settlement since Oct. 1, when it finished at $1,113.70 an ounce. Last week, gold lost 1.8% but still managed to log an October gain of 2.4%.

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