Market sentiment elsewhere has also been struggling in recent days, with US indices dropping by just over 2% last week and the FTSE 100 also falling back once again.
Gold’s slide has helped wipe out half the gains from the last decade’s historic Bull Run, taking prices back to a key chart level and threatening a break towards $1,000 an ounce.
This comes after the US Federal Reserve chair Janet Yellen indicated that interest rates could be hiked this year. That triggered a renewed bout of selling in commodities markets around the world, with precious metals, including gold, hit hard. This makes the dollar more...
Gold prices fell to as low as $1,088.05 an ounce on 20 July – the weakest level since March 2010 – led by a selling spree in China and expectations of an increase in US interest rates.
At the same time, expectations of higher rates are sending the US dollar higher, further pressuring gold, which is priced in the US currency and becomes more expensive to foreign buyers when the buck climbs.
Smartphones have overtaken personal computers and tablets to become the ultimate gateway for those who want to connect to the Internet in China, said a report released on Thursday.
A trio of Obama administration officials will stand stalwart behind the Iranian nuclear deal despite deep concern on Capitol Hill that Iran will try to evade nuclear inspectors and use billions from sanctions relief to further destabilize the Middle East.
“The white paper has launched unfounded accusations against China’s constructions on its own islands – obviously an attempt to depict China as a bully in regional conflicts, supporting the Japanese government’s knavish claim over the disputed waters in the...