Price of Gold Crashes as US Dollar Climbs

For the first time since the beginning of the credit crunch gold is no longer the safe investment of choice. Prices crashed at the end of this week following a resurgence of the US dollar following positive news about America’s unemployment situation.

On Friday 4th December the price gold fell by 5% to $1,161.4 an ounce.

American unemployment fell by 0.2% from October to November, which is seen as a small but very encouraging move in the right direction. Unemployment still stands at about 10% of the total workforce.

Current GBP – USD rates are : 1 British pound = 1.6429 U.S. dollars

Leave a Reply

Your email address will not be published. Required fields are marked *