The price of gold has declined today (June 10th), as investors opt to sell off the metal in the face of positive economic figures.
News of an increase in exports by China and improved forecasts for economic growth in Japan resulted in the precious metal falling in value on trading platforms, Bloomberg reports.
By 13:27 local time, the commodity had fallen by 0.3 per cent to $1,229.38 (£842.60) per ounce in Singapore.
On June 8th, it had climbed to a fresh all-time high of $1,252.11 per ounce as investors sought a safe haven to protect their assets from the ongoing debt problems in the eurozone.
However, despite the recent drop, investors are optimistic the overall trend for the rising price of gold will not be affected.
"There will be some consolidation on the way up but it will be minor pullbacks," Feng Liang of GF Futures was quoted by the news agency as saying.
As well as gold’s retreat, both copper and silver have also slid on the commodity markets this morning.
