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After Friday’s announcement by Federal Reserve Chairman Ben Bernake that the bond-buying program enacted by the central bank would slow if the U.S. economy continues its recovery, gold prices have been dropping.
After Friday’s announcement by Federal Reserve Chairman Ben Bernanke that the bond-buying program enacted by the central bank would slow if the U.S. economy continues its recovery, gold prices have been dropping. According to Bloomberg, gold for mid-August delivery on the COMEX in New York has hit its lowest price since 2010 after falling $9.363 to $1,282.60 per ounce today. Gold spot prices also saw a $12.580 fall, hitting $1,283.69.
According to 15 analysts surveyed by Bloomberg, gold prices are expected to continue to fall this week.
