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- Gold was set for its biggest one-day fall in three months
Gold was set for its biggest one-day fall in three months
This lack of confidence in Europe pushed investors into the relative safety of the U.S. dollar, rather than gold, which has fallen by about 5 percent in the last week alone. A stronger dollar often encourages non-U.S. holders of gold to sell the metal to lock in a higher profit in their own currencies and in India, the world’s largest consumer of bullion, this has kept jewellers and other consumers at bay.
Spot gold was last quoted down nearly 3 percent at $1,659.66 an ounce by 1508 GMT, its lowest in three weeks.
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