Prices dropping as investors gain confidence
(NEWSER) - Gold prices surged more than sevenfold in the decade after 2001 but after peaking at $1,920 per ounce last September, prices been falling rapidly as the US economic recovery creates better alternatives for investors, reports the Financial Times . Yesterday, gold hit a 10-week low of $1,627.68—down 9% from late February—and interest in gold futures on COMEX, New York's commodity exchange, is close to a two-and-a-half-year low. Sentiment towards gold is as low as it has been for many years, possibly since the rally started,” one commodities trader says. More»
