Mining Weekly reported that the demand for physical gold in Asian particularly is sky rocketing, propelled up by weaker currencies.
Gold Market News Directory
Reuters reported that gold is continuing its descent and is nearing a one-month low, while heading towards the largest downturn since 2009.
Reuters reported that gold backtracked on Wednesday, hovering around a three-week low because of disappointing European growth numbers.
Forbes reported that, despite a volatile environment, gold is still a compelling investment choice. As quoted in the market report:
Gold fell $2.855, to $1,427.56 an ounce, on the COMEX in New York.
Gold fell around $14, to $1,432.61 an ounce, on May 13, hitting near a two-week low.
Reuters reported that gold pulled back on Monday, nearing a two-week low as the dollar gained momentum on news from the ECB that deposit rates could be cut if necessary.
CNBC reported that gold slid to a two-week low on Friday as equities and the dollar gained strength.
Gold was up this week for the second time in three days, with most of the gains occurring in India and China, the world's largest consumers of the precious metal.
On May 7, gold fell to its lowest level in a week.