Gold prices drop on weak global demand

Source: The Economic Times
© scanpix/AFP
After advancing in value for two days, bullion prices fell by 0.3% to $1,176.35 an ounce by 06:45 AM GMT on Tuesday. Traders claim the drop in precious metal prices are explained by slower international demand, following the strengthening of the Greenback. Measured monthly, gold seems to be heading for a 1% decline.
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