07.09.2015 - Gold’s ‘safe haven’ status tarnished by two week slump
Gold's safe haven appeal has been dulled after prices endured a two-week slump. Gold prices have endured a two-week slump after jobs data from the US kept an interest rate rise on the cards and dulled its appeal to would-be buyers. The yellow metal, which is often viewed as a safe haven by investors, has slumped by $50, or 3.5pc, from a high of $1,170 per ounce on August 24, to close at $1,120 per ounce at the end of last week. The US Federal Reserve is still on course to increase the key central bank borrowing rate before the end of the year, and this will dull the precious metal’s appeal, as it offers no interest, or income, to investors...............................................Full Article: Source
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