Demand for gold as a safe haven declines

Source: Bloomberg
© Scanpix/AF
Gold continues its fall of seven months, sinking to the lowest since mid-January. The yellow metal has been on the decline ever since speculations about the U.S. increasing borrowing costs began; lessening gold's appeal as an investment. Bullion for delivery slid 0.7% to $1,232.33 per ounce, before settling at $1,236.53 midday in Singapore. The price for gold may decrease further if the Fed takes a more hawkish stance.

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