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Gold Slumps for Fourth Week as Global Recovery Slashes Demand
Jan. 27, 2011 10:28PM PST
Precious MetalsBloomberg reports that Gold dropped to the lowest price in almost four months, headed for a fourth weekly decline.
Bloomberg reports that Gold dropped to the lowest price in almost four months, headed for a fourth weekly decline.
The market news is quoted as saying:
Spot gold fell as much as 0.4 percent to $1,308.3 an ounce, the lowest level since Oct. 1, and was at $1,312.22 at 1:28 p.m. in Tokyo. Prices have fallen 7.6 percent this month, the first monthly loss in six. Holdings in gold-backed funds fell to the lowest level since June.
