Gold Loses Shine For 30 Years As Investors Back Out

Finance and Trade
03/01/2016 09:13

Gold took a hit to its image as a safe haven asset in 2015 with its longest decline since 1984. Bullion futures fell for a sixth-straight quarter in the final three months of last year, and lost 10 percent of its price in 2015 and have fallen by about 45 percent since reaching a record high in 2011. The price of gold has fallen as the U.S. dollar has surged on the back of rising American interest rates and a general collapse in prices of commodities from iron ore to oil. Silver futures also fell for a third year, dropping 12 percent to $13.8 an ounce, while platinum lost 26 percent to around $900 per ounce.