Gold Prices Fall as China Announces Lower Growth Target

Bloomberg reported that gold prices dropped after China’s lower economic growth targets put a damper on market sentiment.

As quoted in the market news:

Gold futures for April delivery fell 0.4 percent to $1,703.90 an ounce at 10:11 a.m. on the Comex in New York. Prices dropped 3.7 percent last week, the most since Dec. 16, while the dollar gained 1.3 percent against a six-currency basket.

Click here to read the full Bloomberg report.