Today, Gold slumped to a near-6-year low after comments from Federal Reserve chair person Janet Yellen virtually cemented the case for a US rate increase in present month, while the strength in the dollar also pressured the metal.
Fed Chair Yellen said on yesterday she was "looking ahead" to a US interest rate increase that will be seen as a testament to the economy's recovery from recession.
Yellen expressed confidence in the economy of United States, saying job growth through October month suggested the labour market was healing even if not yet at full strength.
"The market took these comments as a good signals that the Fed would raise rates at the next FOMC meeting later this month," told in reports by HSBC analyst James Steel.
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