MOSCOW, March 16 —The price of gold fell this morning, dropping below US$5,000 (RM19,670) per troy ounce for the first time since late February, according to trading data reported Sputnik/RIA Novosti.
As of 05:05 GMT, the price of the April gold futures on the New York Comex exchange fell by 0.88 per cent to about US$5,017 per troy ounce after briefly slipping below US$5,000 for the first time since February 20.
May silver futures dropped about 1.48 per cent to roughly US$80 per troy ounce.
Analysts are weighing the potential impact of the ongoing West Asia conflict on the global economy.
Most analysts (99.2 per cent) expect the United States (US) Federal Reserve to keep its interest rate at the current level of 3.5-3.75 per cent, while the rest anticipate a cut to 3.25-3.5 per cent. — Bernama-Sputnik
