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Home BUSINESSLowest price of gold in 3 years
Sat, 29 Jun, 2013 12:00:04 AM
FTimes News Desk, June 29

The world price of gold has fallen to its lowest level in nearly three years, news agency STT reported quoting Reuters.

Price decreased by less than 1 to $ 200 an ounce and the decline is expected to continue. In recent weeks, the price of gold has fallen by over 15 per cent. 

The U.S. Federal Reserve starts to tighten up the loose monetary policy of the United States as economy begins to recover. As of April, a decrease has been 25 per cent. Period ending price development is becoming a gold record low. 

But cheaper prices have not yet increased gold demand in major consuming countries in Asia, such as India and China. 

An ounce of gold costs more than $ 900 in 2009. Gold is listed on the world market in dollars and an ounces is equivalent to 31.1 grams.

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