Gold hits four-month low

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GoldNecklace Reuters. A woman is reflected on a mirror inside a gold jewellery shop in the western Indian city of Ahmedabad.

The price of gold dropped to a four-month low in London Wednesday amid concern over continuing political and financial eurozone uncertainty, propelled by the election fall-out in Greece.

Gold was fixed at 1,585.50 dollars an ounce in morning trading in London Wednesday, following Tuesday's closing price of 1,602.50

dollars an ounce.

Investors feared that the uncertainty in Greece would strengthen the dollar and curb the demand for gold as an alternative asset, analysts said. - Sapa-dpa


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