Improving U.S. economy continues to dampen gold's prospects

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Source: Bloomberg
Gold extended its weekly decline as investors continued to eye the possibilities concerning the increase of the U.S. interest rates which would lessen gold's appeal as a safe haven investment. Gold for immediate delivery lost 0.3% to $1,211.06 per ounce, adding to its total losses of 0.6% this week. On September 30, gold was at $1,204.57, its lowest in 2014. The pick up in U.S. economy pushed the yellow metal closer to ending its yearly gains.
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