Gold price continued to decline 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. Market participants are awaiting the release of the U.S. retail sales and producer price index data on Friday.
Today's Chinese economic data also weighed on gold price. The National Bureau of Statistics said on Wednesday that China's industrial production increased 5.6% year-on-year in October, missing expectations for a 5.8% rise, down from a 5.7% gain in September. Fixed-asset investment in China climbed 10.2% year-on-year in the January-October period, in line with expectations, after a 10.3% rise in the January-September period. Retail sales in China increased 11.0% year-on-year in October, exceeding expectations for a 10.9% gain, after a 10.9% rise in September.
December futures for gold on the COMEX today fell to 1084.70 dollars per ounce.