For the third straight day today, gold has remained below $1,100 per ounce, a level last touched in March 2010.
Prices could fall below US$ 1,000 for the first time since 2009, according to Goldman Sachs. Morgan Stanley reports that in the worst-case scenario it may tumble to US$ 800.
What has been driving this decline? Here are four reasons that economists believe are causing this fall.
Earlier this month, Flipkart had announced a hitherto-unseen innovation in the Indian e-commerce space – image search. With this feature, users can simply take a picture of clothes that catch their fancy, and Flipkart would automatically display items from its catalogue that look similar to the article of clothing that’s been photographed.