Commodity has been hit by a deal to avert a Greek bankruptcy, a potential US interest rate increase and a sharp selloff in ChinaGold fell to its lowest price for more than five years last week, as the precious metal was buffeted by the deal to avert a Greek bankruptcy, a potential US interest rate increase and a sharp selloff in China.A wave of selling in Asia drove it down almost 4% to as low as $1,088 an ounce on Monday – before making attempts to recover throughout the week but languishing at around $1,079 on Friday evening. The last time gold has traded at that level was in March 2010. Related: Anglo American and Lonmin cut jobs amid commodity slump Continue reading...
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