Gold drops on speculation that demand might decrease

Source: Bloomberg
© Scanpix/Reuters
Gold dropped as investors speculated that higher prices will decrease the demand from jewelers. It is expected that if the level of $1,300 does not hold, the prices might quickly sink to $1,265-70 support area. The commodity fell 0.4% to $1,329.31 so far today, while gold futures dropped 0.1% to $1,328.40. Platinum decreased 1.1% to $1,433.61.
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