Gold Prices Fall as Dollar Gains

Gold prices fell more than $65 an ounce – about 5 percent – as the US dollar made gains this morning in Asia. Gold, which had hit a record hit of $1,226.56 an ounce earlier in the week, losses its appeal to investors as the dollar strengthens.

“So many people have piled into gold, so this pop in the dollar is freaking people out,” said Matt Zeman at LaSalle Futures Group.

“The dollar is rocking and gold is getting its teeth kicked in.”

BBC News

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