Technorati – Gregory Meyer reported on FT.com that spot gold prices in London fell to $1,523 per troy ounce down $400 from a nominal record made last year. Gold prices are at the lowest in almost half a year. Investors are exchanging the yellow metal for US Dollar. US Dollar is on the surge again with the dollar reaching 15 month high against the Euro.
Gold has been making steady gains in the last few years. It almost gained 8% in 2011. This was 11th straight year of gains that outperformed many commodities and stock indexes. The record was made when gold prices reached $1,920 per troy ounce in early September 2011.
