Gold drops towards 6-year low

Tuesday, 24 November 2015 01:00 - - {{hitsCtrl.values.hits}}

LONDON, Nov 23 (Reuters): Gold fell on Monday towards the near six-year low it reached last week on a robust dollar and upbeat comments from Federal Reserve officials on a possible US rate hike next month.

Spot gold was down 0.8% at $1,069.02 an ounce by 1029 GMT, down for a 13th session in the 16 trading days this month. The metal hit $1,064.95 last week, the lowest since February 2010.

The dollar rose 0.3% against a basket of six major currencies, still close to an earlier seven-month high, hit as the euro fell on expectations that the European Central Bank will ramp up its monetary stimulus next month.

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