Gold price fell on speculation that the Fed will start raising its interest rates in December. Friday's labour market data from the U.S. added to this speculation. The U.S. economy added 271,000 jobs in October, exceeding expectations for a rise of 180,000 jobs, after a gain of 137,000 jobs in September. It was the largest increase since December 2014. The U.S. unemployment rate declined to 5.0% in October from 5.1% in September. It was the lowest level since April 2008.
Market participants are awaiting the release of the U.S. retail sales and producer price index data on Friday.
December futures for gold on the COMEX today declined to 1084.00 dollars per ounce.