The gold price has suffered one of its sharpest declines in years, says Andrew Critchlow in The Daily Telegraph. It sank by almost 6% last week to a four-year low below $1,170 an ounce. The yellow metal faces "a perfect storm", says Capital Economics.
Demand for a safe haven has fallen for several reasons, notably strong US growth. GDP expanded by a stronger-than-expected 3.5% in the third quarter and a weekly tally of claims for unemployment benefits slipped to a 14-year low.
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