Gold Falls to $1,173.11 per Ounce

Gold almost reached a three-week low on Wednesday, according to Reuters.

Spot gold reached $1,173.11 an ounce – a decrease of 0.2 percent. Meanwhile, U.S. gold futures for delivery in February declined 0.4 percent to hit $1,173.40 per ounce.

This was brought on by news of a strengthening U.S. economy and worry over potential hikes in interest rates. Reuters reported data showed the U.S. economy grew 5 percent during the third quarter – its fastest pace in 11 years.