Spot Gold Slips to $1,272.90

While gold prices rose slighting in early trading June 25, the precious metal fell today by nearly $9 to hit $1,272.90 an ounce.  Reuters reported gold is on track to drop to its lowest level in 30 years.

COMEX gold futures for August delivery in New York also declined today, falling $4 an ounce to $1,273.10.

Gold has been underperforming lately due to concerns over the U.S. Federal Reserve winding down its stimulus program. The Fed’s announcement has caused the dollar to strengthen, affecting commodities across the board.