(Bloomberg) -- Gold held near a four-month low as investors focused on the likelihood of higher U.S. interest rates. Holdings in ETFs increased to the highest since 2013.

Bullion for immediate delivery slipped 0.3% to $1,254.84 an ounce at 10:54 a.m. in London, according to Bloomberg generic pricing. Following a two-week selloff, prices stabilized, sliding 0.2% this week. Credit Suisse Group AG said the bull market for gold is still intact and prices will average $1,450 an ounce next year.

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