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Gold Falls Hard vs. Dollar as Stocks & Commodities Sink, Faces “Definite Downside Risks”

BullionVault – The Gold Price fell sharply against a strong US Dollar on Monday morning, falling through what one Asian dealer called "technical and psychological support at $942" to record the lowest Gold Fix so far this month at $937.50 an ounce.

Crude oil sank below $66 per barrel, while base metals and silver lost more than 3%.

Adding to Friday’s 0.7% loss despite news that France and Germany crept out of recession between April and July, world stock markets sank 1.4% early Monday on average – the biggest one-day loss in more than six weeks – after Japan reported 0.9% growth in its second-quarter GDP.

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