Gold price falls to 3.5-month low

Even the latest twists and turns of Greek Prime Minister Tsipras did not give rise to any serious fluctuations on the gold market yesterday.

Good US employment figures had a greater impact, on the other hand, as they resulted in an appreciating US dollar and rising US bond yields. This morning gold has dropped to a 3½-month low of $1,161 per troy ounce. It risks falling even further if US labour market data prove surprisingly positive this afternoon, says Commerzbank.