Today
the gold dropped again reflecting downward pressure on metals in recent days. And this is the biggest decline for the past two years. The expectations are for
new losses in its sluggish demand.
The expected rise in US interest rates reduces interest in the metal as an
investment and encourages sellers. On Monday gold depreciated by 4%. Meanwhile the assets of the largest fund trading with
gold SPDR Gold Trust fell again and reached its lowest level since 2008.
The spot price overnight fell to 1093 dollars, and the morning was 1102
dollars. Monday was hit bottom at 1088.05 dollars per troy ounce , which was the
lowest price since March 2010.The mass sales were accelerated by the large
volumes traded on the Shanghai Stock Exchange.
The demand from the physical sector remains weak despite the large decline in
the price. India is in hurry to join at a sluggish from China as the potential buyers are waiting for new lows in price.
The decline of gold is accompanied by a decrease in the whole sector of the
precious metals, which is suffering heavy losses.
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