Gold at five-month low

Chart from Kitco.

Spot gold dropped to a five-month low this morning before recovering slightly.

The precious metal is trading at US$1,262.50 per ounce. Silver is at US$20.22 per ounce.

At the start of July gold dropped to $1,223.80 per ounce.

Year-to-date gold is down 23.94%.

While precious metals are hurting, the US S&P 500 is up this morning 0.25% to 1,790.74.

The S&P TSX Composite Index is down 0.04% to 13,437 and the TSX Venture Composite fell 0.47% to 919.17.

Creative commons photo from The Library of Congress