Gold rises but remains near multi-year lows with U.S. GDP in focus

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On Monday, prices fell to $1,065.00, not far from last week’s low of $1,062.00, a level not seen in almost six years.

Gold futures are down more than 6% so far this month amid growing expectations the U.S. central bank will raise rates for the first time in nearly a decade at its mid-December meeting.

The U.S. is to release preliminary figures on third quarter economic growth at 8:30AM Eastern Time Tuesday. The report is expected to show that the economy grew 2.1% in the three months ended September 30, compared to last month’s advance estimate of 1.5%.

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