Gold Drops as Record Price, IMF Growth Reduction Prompts Investors’ Sales

Bloomberg reported that lower inflationary pressures in part caused gold prices to drop after a recent rally.

The market news is quoted as saying:

Immediate-delivery bullion fell 0.4 percent to $1,456.78 an ounce at 3:16 p.m. in Singapore after touching an all-time high of $1,478.18 yesterday. Gold for June delivery in New York lost 0.7 percent to $1,457.70, retreating from a record $1,478.

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