Investors predict the Fed would begin raising interest rates in December as the recent comments and economic data have raised this possibility.

U.S. initial jobless claims for last week fell to a one-month low before the release of the infamous non-farm payrolls report next week.

With the improvement in the labor market conditions, the Fed is likely to hike its interest rates as soon as December.

Recent inflation data also showed that prices have started to rise, raising expectations it would continue to increase gradually towards the Fed’ target.

The U.S. dollar continued to put gold under pressure as it soared to a high of 100.88 against a basket of major currencies.

The dollar index is currently hovering around 99.86, compared to the session’s opening at 99.93.

Gold hit a low of $1066.38 an ounce, while it currently trading at $1068.28, where it opened at $1071.60.

Now, gold is poised for its sixth straight weekly decline and its third consecutive annual loss.

Brent crude slipped for a second straight session to $45.07 a barrel, yet may lock a weekly gain this week.

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