| What’s happened to the price of gold? Gold is now the cheapest it’s been for more than five years. You can buy an ounce of gold for $1,088 (£697) – a drop of 4 per cent. This is the first time gold has traded below $1100 since March 2010. Some analysts are predicting that the price of gold will fall below $1000 an ounce by the end of the year.
Why? Gold is getting cheaper because people are choosing to invest in assets that might increase in value – like currency. Janet Yellen, the chair of the US Federal Reserve, said that interest rates might rise by the end of the year. This gives people confidence that the US economy is going to continue to improve – and that the dollar is going to strengthen with it...............................................Full Article: Source
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