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- Gold continues to fall to a new four-year low below USD1150
Gold continues to fall to a new four-year low below USD1150
Currently priced at USD1,144.70 gold continues its weakness as the strong U.S. dollar cuts demand for the safe-haven asset and physical demand failed to support. Investors' holdings in bullion-backed funds dropped to a five-year low as they are moving to riskier asset classes. The Federal Reserve, as other central banks is considering raising interest rates to help their economies putting further pressure on gold often used as inflation hedge. U.S. jobs report on Friday could also boost economic optimism and the dollar so gold could see further downside.
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