Gold's gloomy outlook deepens as Dollar grows strong

Source: Bloomberg
After speculations arose that the Federal Reserve might increase the interest rates for the following year, gold abated to a three-month low as the demand for it as a substitute investment contracted. Bullion price stood at $1,255.55 an ounce midday in Singapore. The prices stepped down as much as to $1,251.52 on September 8. The metal has been on decline for four months straight, as traders are backing out of gold trade.
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Tue, 09 Sep 2014 08:59:05 GMT

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