The price of gold fell to 3.5 -week low below $ 1,290 an ounce, as investors are uncertain in timing reduce the incentives the Fed , and physical demand is not high enough .

Gold fell nearly 3 percent in the last three sessions , as the high levels of employment in the U.S. increased concerns that the Fed will soon start buying bonds to reduce the amount to $ 85 billion a month.

If prices fall below $ 1,300 does not help attract buyers in the physical market in Asia , as they are waiting for further decline. According to dealers , the buyers return to the market if the price is closer to $ 1,200 .

Bank BNP Paribas raised its gold price forecast to $ 1,415 an ounce by the end of this year , but lowered the forecast average price in 2014 to $ 1,095 .

The cost of the December gold futures on COMEX today dropped to $ 1274.00 per ounce.