Gold in biggest fall for two years as Fed rate rise expected

The precious metal is considered a hedge against inflation and a safe haven asset in times of trouble. But with expectations high that the Federal Reserve will up interest rates - which has the effect of curbing inflation - for the first time in six years at its December meeting, gold has come under pressure. Spot gold prices fell by as much as $4 to $1,053.29 on Monday, close to Friday's six-year low of $1,052.46, the Telegraph reported. While prices recovered in late trading, gold is still on track for a decline of 6.7% this month, which would represent the biggest monthly fall s...