Gold price falls to five-year low

Gold price falls to five-year low

The gold price fell to its lowest for more than five years due to the expensive dollar, a sharp sell-off in China and a potential US interest rate increase.

August futures for gold at Comex (New York) became cheaper by $24.9 and 2.2% to $1114 per troy ounce.

The last time gold traded at that level was March 2010. September futures for silver fell by 1.75% to $ 14.58 per ounce.

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