| On Wednesday, gold dropped to the lowest level since November last year after the US Federal Reserve said the world's largest economy favours a rate rise this year. Futures contracts in New York with August delivery dates were priced as low as $1,141.90 an ounce down more than $10 from yesterday's close following comments by Fed chair Janet Yellen in testimony to US politicians.
That was the lowest since November 7 when gold briefly dipped to $1,135 an ounce before recovering to end that day at $1,173 an ounce. For a sustained period below $1,150 an ounce you have to go back to April 2010...............................................Full Article: Source
|