The price of gold has gone down in the international market.
Fears of a banking crisis around the world have eased, reducing the demand for risky assets among investors. As a result, the precious metal lost value, according to a report by Reuters.
The report said that the spot price of international benchmark gold decreased by 0.7 per cent on Wednesday. The price settled at $1,960.91 per ounce which was 1 per cent lower than the previous working day.
On the same day, US benchmark gold supply prices fell by 0.6 percent. The price settled at $1,962.10 per ounce.
“The price of gold is falling naturally. A day earlier, the price was $1,975 per ounce. From there the value of the metal is decreasing,” said Matt Simpson, senior market analyst at Citi Index.
