Gold price drops as safe haven buying dries up again
By GCRU Gold News on Friday, August 22 2014, 08:46 - Permalink
The slide in the price of gold came after minutes of the last US Federal Reserve meeting released yesterday showed the US central bank opting for a more hawkish tone as the country's job picture continues to improve.
Short term bond yields – negatively correlated with the gold price as the metal is not income producing – jumped the most since March on expectations that the bank might raise rates a bit sooner than expected.