Gold Nears Two-week Low at $1,432.61 per Ounce

Gold slipped around $14, to $1,432.61 an ounce, on May 13, nearing a two-week low. Reuters reported the gold price decline is due to the dollar firming as the US economy shows signs of improvement and as holdings in exchange-traded funds slipped again.

The price of gold today was around the May 10 level of $1,420.61, which is the lowest price seen since April 24, the source reported. US gold for June delivery also fell $5.73, to $1,431.50 an ounce.

Bloomberg reported the price of gold has fallen for the third day in New York and that the commodity is having the “worst start to a year since 1982.”