HIGH DEMAND: We cannot guarantee our usual delivery service. Orders will be dispatched within 1-3 working days.

Open menu Close menu Menu
Open charts menu Close charts menu Charts

Call us: 0121 634 8060, 7 days, 7am - 10pm

Free Insured Next Day Delivery

Ounce Gram
Gold £1279.27 £41.129
Silver £14.380 £0.4623

Updated 02:20 25/02/20

£ $

Gold Price Falls Nearly 8% in Less Than Three Weeks

Samuel Gee, News Editor
5 May 2017, 12:32 p.m.

The gold price has fallen 7.6% (£-79.26/ oz t) in the last three weeks, approaching levels not seen since January this year.

The decline was accelerated by an overnight plunge of 1.75% after a statement from the Federal Reserve on Wednesday, in which they asserted that their fiscal tightening policy is set to continue. The probability of further interest rate hikes in June was upgraded from 67% to 97% as a result, putting downward pressure on gold as Treasury bond yields and the dollar both rose.

The Fed affirmed that they remained confident in the US economy, claiming that slower growth in Q1 was merely 'transitory'. Should this prove to be false, the downturn in the gold price is unlikely to continue for too long.

We have seen a positive reaction to the falling gold price, with a surge in demand from customers looking to take advantage of the lowest prices in a while.

View original source at: www.dailyfx.com

comments powered by Disqus