Gold prices fall almost 200 dollars

Elena Voinea (Translated by Cosmin Ghidoveanu)
Ziarul BURSA #English Section / 26 august 2011

Gold prices fall almost 200 dollars

The price of gold saw the biggest drop in the last 18 months, amid the stabilization of speculation on the financial markets, which eroded demand from investors, according to Bloomberg.

Gold fell 3.1%, to 1,704.25 dollars/ounce, around noon in London.

According to Mediafax, the price of gold also fell due to the investors" optimism, following the speech of the head of the US Federal Reserve.

Today, Ben Bernanke is set to address the heads of several central banks invited at the annual conference hosted by the Federal Reserve in Jackson Hole, Wyoming.

Yesterday"s drop in the price of gold comes after the yellow metal had gone above the USD 1,900/ounce threshold on Tuesday, on the international markets.

The price of gold quoted by the NBR also fell, to 162.84 lei/gram, down 11.91 lei, below the level of the previous session.

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