By Katherine Dunn
LONDON--Gold prices fell Wednesday in London as a stronger dollar and expectations of an interest rate hike by the Federal Reserve next month put pressure on the metal.
Spot gold was down 0.27% at $1,187.82 per troy ounce in mid-morning European trade.
Investors are also in near consensus that the U.S.Federal Reserve will raise rates at a meeting in December. The likelihood of a rate hike is now at 91.7%, according to Fed fund futures tracked by CME. Because gold does not bear interest, it struggles to compete when interest rates rise.