Global gold prices take a plunge

Global gold prices take a plunge

Global gold prices take a plunge

Written by Staff Writer

23 Feb, 2016 | 2:49 pm

Gold prices slipped as much as two percent on Monday, as the dollar strengthened and investor appetite for risk increased. But the metal remained above $1,200 an ounce after a rally that pushed prices to one-year highs this month.

Concern over financial instability and the repricing of expectations for U.S. interest rate rises, has helped gold outperform most assets so far this year with a 15 percent gain.

Spot gold was down 1.6 percent an ounce.

Top consumer China has been selling gold since its return from a week-long holiday last Monday, a sign Chinese investors do not expect prices to go much higher and cannot be counted on to support the market.

Are you interested in advertising on our website or video channel
Please contact us at [email protected]