Gold prices down in Asia

May 16, 2013


Gold Prices hit a three-week low on Wednesday, stretching its losses into a fifth straight session, as the euro weakened on disappointing European growth numbers and firm equities lured away investors. Gold Prices was down $15.8 at $1,409.59 an ounce by 0814 GMT, after swinging between a high of $1,430.24 and the three-week low of $1,408.24. US gold futures for June dropped about 1 percent to $1,408.20 an ounce.

While spot gold has recovered about 7 percent from a two-year low plumbed in mid-April, prices are still down more than 14 percent for the year, on track to snap a 12-year winning run. Reuters

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