The price of gold continues to fall and has now dropped to its lowest point in more than two years, according to new data.
It was revealed by the latest Gold Investor Index from BullionVault that the amount of physical gold purchased by private investors fell sharply in May after a strong rise in April.
Adrian Ash, head of research at BullionVault, stated that the fall in the demand for gold was to be expected, reports Your Money.
"Retail investor sentiment towards gold remains positive – despite the uptick in both interest rates and the stock market – and a growing number of people are still adding gold to their savings," he said.
The Gold Investor Index is now at its lowest level since September 2012 and is down by 9.6 per cent from April's 16-month high.
It was recently noted by the World Gold Council Gold Demand Trends survey that demand for gold is on the rise among investors.
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