Open menu Close menu Menu
Open charts menu Close charts menu Charts

For help and advice call us on:

0121 369 3000

8am to 10pm - 7 days a week

£ $
Live Metal Prices
Metal Ounce Gram
Gold £1,310.51 £42.13
Silver £19.662 £0.632
Platinum £902.25 £29.01
Palladium £2,105.00 £67.68

Updated 14:36 08/05/21

Gold Price Falls Nearly 8% in Less Than Three Weeks

By Samuel Gee, News Editor

05 May 2017

The gold price has fallen 7.6% (£-79.26/ oz t) in the last three weeks, approaching levels not seen since January this year.

The decline was accelerated by an overnight plunge of 1.75% after a statement from the Federal Reserve on Wednesday, in which they asserted that their fiscal tightening policy is set to continue. The probability of further interest rate hikes in June was upgraded from 67% to 97% as a result, putting downward pressure on gold as Treasury bond yields and the dollar both rose.

The Fed affirmed that they remained confident in the US economy, claiming that slower growth in Q1 was merely 'transitory'. Should this prove to be false, the downturn in the gold price is unlikely to continue for too long.

We have seen a positive reaction to the falling gold price, with a surge in demand from customers looking to take advantage of the lowest prices in a while.

comments powered by Disqus