Gold Slumps for Fourth Week as Global Recovery Slashes Demand

- January 28th, 2011

Bloomberg 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.

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