Spot Gold Down to $1,313.40 an Ounce

Gold prices fell Nov. 5, reaching near two-week lows early in the session. Gold futures for December delivery reached $1,311.40 an ounce on the COMEX in New York, down $3.93 from the previous session, Bloomberg reported.

Spot gold prices were also down $1.31 to $1,313.40 an ounce.

A stronger US dollar impacted gold prices today. Investors are also cautious ahead of a European Central Bank meeting later this week.

“We’ve seen recently that the dollar has been strengthening because the euro is weakening,” Natixis analyst Bernard Dahdah told Reuters. “The euro’s appreciated by some 2 percent, and at the same time the gold price has dropped by almost 3 percent. Looking forward, it will be interesting to see what the ECB has to say, and whether they will continue with quantitative easing.”