Gold prices slide
LONDON, June 23: Gold prices slid, and silver hit a six-month low at $26.62 an ounce.
By late Friday on the London Bullion Market, gold slid to $1,565.50 an ounce from $1,627.25 a week earlier.
Silver dropped to $26.81 an ounce from $28.66.
“Precious metals remain in the doldrums,” Deutsche Bank analysts said in a note to clients. “The deterioration of economic
conditions in both the US and China is exacerbating the risk perceptions which have grown as the eurozone crisis continues to
grab international headlines.
“The conventional wisdom favours perceived low-risk sovereigns, such as German bonds and US treasuries; therefore, capital
flows have moved from various equities, commodities and higher-risk bond markets to these safe havens,” they added.—AFP