Gold Falls to $1,282.41 an Ounce Amid Stimulus Tapering Speculation

Gold prices hit low levels not seen in nearly a month today. Spot gold was down $5.13 to $1,282.41 an ounce after falling earlier in the session to $1,278.94 an ounce – its lowest since Oct. 17, Reuters reported.

The US October jobs report released last week has sparked speculation the Federal Reserve may taper its stimulus program earlier than expected. Analysts said the Fed may make cuts to its $85 million monthly bond buying program as soon as December.

Gold futures for December delivery were also down today by $1.10 to $1,283.50 an ounce, Kitco News reported.