Gold just hit a 5-year low.
On Friday morning, gold fell more than 1% to as low as $US1,129.80 an ounce, the lowest since 2010.
In a morning note to clients on Friday, Accendo Markets wrote: “Gold ($US1144) lower yet again after the German conservatives voted to start talking about the details of a third Greek bailout while Grexit plans were locked away for the time being. So when investors are confident, they sell gold; when they’re worried, they don’t buy it. A strong US Dollar with all this talk of interest rate hikes likely contributing to Gold’s seeming change of purpose of late with the 3-month downtrend intact.”
Here’s a chart showing the slide on Friday morning:
This post is being updated …
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