PETALING JAYA: Gold prices fell to the lowest in more than two months as investors take on higher risk and reduce exposure in the safe haven metal.
According to a Bloomberg report, risk appetite improved on optimism that the present financial crisis is easing. Equities around the globe have improved over the last one month.
At 2.40pm Malaysian time, gold spot price dropped 1.6% to US$878.60 an ounce while for June delivery, it fell 1.9% to US$880.10 per ounce.The precious metal has dropped about 6% in the last one month while the MSCI Asia Pacific Index increased 22%.
