Gold fell to its lowest in almost three years on Wednesday, putting it on course for a record quarterly loss, as U.S. economic data increased fears the Federal Reserve will soon end ultra-loose monetary policy.
Prices could slide further - some investors saying below $1,000 per ounce - while there is little potential for data, market trends or economic developments in the United States or Europe to reverse an accelerating investor move out of gold.
Spot gold tumbled to its lowest since August 2010 at $1,223.54 an ounce and was down 3.8 percent at $1,227.86 an ounce at 1032 GMT. U.S. gold futures for August delivery were down $47.60 at $1,227.90, having hit a low of $1,223.20.
Read more...
No comments:
Post a Comment