Gold becomes less precious for investors

Gold becomes less precious for investors

Mid-June saw a rise in the price of gold, boosted by concerns over Iraq and the Russia-Ukraine tensions. However as the price (and supplies) of oil has not seen huge adverse effects, and threat of Cold War style standoffs reduced, the safe asset of gold bullion is losing appeal. After adding $76, or 6 per cent, to its value in June, gold is now down to a low not seen since 2009. While prices have slipped back, demand is still high, especially in Asia, and trading is near a three month high. Read the full story.