Gold prices dropped 1.1 percent on Wednesday, tracking losses of the euro on concernsthat the debt crisis of the common currency area may extend to France’s second largest economy in the cluster, while Greece and Italy are struggling to save their economies.
The people come to gold in times of economic turmoil and political as a safe haven, butthe metal is moving in parallel with recent high-risk assets as investors liquidate their positions in which to cover other losses.
And landed the spot gold price was 1.1 percent, to 1761.74 dollars an ounce (an ounce), but recovered to 1768.10 dollars.
The contract fell 1.1 percent American and then also some losses to offset up to 1769.80dollars.
The fall in the price of silver in online transactions 0.87 percent to 34.22 dollars an ounce.
Platinum fell 1.24 per cent to 1617.24 dollars, while palladium was 1.58 percent, recording649.97 dollars an ounce.