Gold is approaching its lowest level in four months despite the crises in Greece and contributed to China

Gold continued to fall in Asian trade on Wednesday to near its lowest level in four months with damaged its appeal as a safe investment in spite of Greece’s debt crisis and a sharp decline in the Chinese stock markets.

And other precious metals followed the example of gold to record sharp losses with the increasing strength of the dollar.

And it dropped the price of gold in the spot transactions 0.2 percent at 1153.68 dollars per ounce by 0415 GMT, after falling more than 1 percent in the previous session, and during Tuesday’s session Hui yellow metal to $ 1148.05, the weakest level since 18 March

Silver fell 1 percent in Asian trading on Wednesday to $ 14.91 an ounce after that suffered a loss of 4 percent in the previous session to being traded near the lowest level since December 2014.

Hui and platinum to its lowest level since early 2009, while palladium fell to its lowest level since mid-2013.

Being dollar traded near the highest level in a month against a basket of major currencies, the dollar’s strength would make the US currency-denominated metals more expensive to holders of other currencies

Add a Comment