3 Reason gold price has gone down

3 Reason gold price has gone down

• China selling gold

China has started selling gold which is putting pressure on gold prices. It was believed that China was hoarding gold for sometime. With dollar becoming stronger & international condition becoming better, China has started selling gold.

• Greece recovery

Gold had increased with the news of Greece crisis. Greece has been now supported by other countires. With this positive news, importance of gold has come down.

• Dollar becoming stronger

Dollar prices becoming stronger has pushed trader to sell gold & buy dollars.

Future of gold

gold is expected to fall further. It has reached 25000 from all time high of 33000 & is expected to fall to 22000 in next few days.