Gold price continue to fall

<p>Gold prices are still dropping.</p>

The price of gold is continuing to drop, with the recent meeting of policymakers at the Bank of Japan blamed for the latest dip.

After no fresh measures were revealed by the bank, the value of the precious metal fell towards its lowest point in the last two months.

Gold for August delivery ended Nymex floor trading yesterday (June 11th) down $9 at $1,377 an ounce, reports MarketWatch.

Jeffrey Wright, senior research analyst at Global Hunter Securities, explained one of the reasons why the price of gold has been coming down in recent weeks is "in a larger response to a broader selloff taking hold around the globe overnight".

He added: "The specific impact with gold appears to be rising short-term rates, yes in Japan, but elsewhere as well."

Earlier this month (June 5th), the price of gold fell to its lowest point in more than two years, indicating the commodity's reputation as the world's primary safe haven for investors is at risk.

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