Gold Prices Hit Two-Week Low, Focus on Eurozone Debt Crisis

Reuters reported that gold prices ended lower on Wednesday’s trading session, off a previous two-week low. Responsible for weaker gold is a stronger dollar and weaker crude oil, triggered on profit-taking following the bullion’s recent rally. Investors are also shifting their focus to developments in the latest bout of Eurozone debt crisis.

As quoted in the market news:

Spot gold was down 0.5 percent at $1,751.50 an ounce by 3:51 p.m. EDT (1951 GMT), recovering from a two-week low reached earlier in the session at $1,737.50 an ounce. U.S. gold futures for December delivery settled down $12.80 at $1,753.60, with trading volume about 10 percent above its 250-day average.

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