Gold is heading towards recording its largest monthly decline since 2008
Capitals, June 30, 2008 – Gold prices fell by more than one percent today, heading towards recording their largest monthly decline since October 2008, with expectations of raising US interest rates to reduce high inflation.
The price of gold in spot transactions fell 1.5 percent to $3,956.92 per ounce, recording a loss of 12.7 percent since the beginning of the month, in what would be the fourth monthly decline in a row. US gold futures for August delivery also fell 1.7 percent to $3,969.30.
As for other precious metals, the price of silver in spot transactions fell 2 percent to $57.13 per ounce, platinum lost 1.1 percent to $1,557.21, and palladium fell 0.4 percent to $1,208.17. The three metals are on their way to record quarterly losses
And monthly.
-Except-
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