Gold Price Continues to Fall to $1,282.60

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.