August 7th, 2015
Gold appeal fades amid recovering US
Gold’s appeal as an investment is being outshone by the recovering US economy and strong dollar.
The currency has enjoyed steady increased against other major currencies this year, thanks to the improving US economy. Now, speculation has arisen surrounding a rate rise by the Federal Reserve, which has reduced the precious metal’s attractiveness as a safe haven asset for alternative investors. Indeed, gold values have now fallen to a five-year low, according to Reuters, to $1,090.70 an ounce.