Gold has witnessed some serious decline this month amid tight economic conditions in States. Gold is currently at $1,176.31 which dropped from $2,157.09, a sharp and unexpected fall. The economic situation has made it easy for investors to invest and make enormous profits from Foreign Exchange market and Stock Market. Euro has recently increased and economists believe that it will continue to rise till the end of September allowing investors to earn 22% profits on investments and therefore very few investments are being done in bullion and gold certificates.
The reason for fall of gold is due to precious metal’s slim demand however Gold miners are positive about the market in Future. Silver have also slipped to 0.8% in single day. The gold prediction in July and August looks bearish as investment opportunities in equities and trade have captured the market. The gold’s drop to eight-week low have already effected many countries regarding economic situation and other gold-backed investment portfolios. Analysts predict that after a short-fall in trade of Gold in the month of July, gold will rise to 11%.