Gold fell to the lowest level in almost six years


Moscow. November 12. The price of gold during trading in new York on Thursday fell to its lowest level in almost six years on expectations of increase in the key rate in the U.S. in December, according to Bloomberg.

The price of gold for delivery in three months in December on the new York commodity exchange (COMEX) fell 0.8%, to $1075,8 per ounce. The Minister also said that the quote was down to $1073, the lowest level since February 2010.

According to futures quotations at the level of basic interest rates in the US, the probability of its recovery in December, the market is estimated at 66%.

Net outflows from U.S. exchange-traded products (ETP) backed by gold, continues ninth session in a row, and investment in them was the lowest since 2009.

Net long positions (bets on rising gold price) for the week ended 3 November, fell by 40%, according to data of the Commission on futures trading in commodities (CFTC) of the USA.