Gold hits four-month low

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

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

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