Higher Dollar Causes Losses for Gold

Reuters reported that the US dollar’s increase in relation to the euro caused gold prices to slip.

As quoted in the market news:

Spot gold was down 0.3 percent at $1,609.90 an ounce at 1440 GMT, having earlier risen as high as $1,616.50. Prices are well off the record $1,920.30 an ounce they hit in early September, but remain up 13 percent on the year.

Click here to read the full Reuters report.