Gold Prices Fall 1.8% On Euro Skepticism

By Nish Amarnath | June 28 2012 1:36 PM

Gold prices fell Thursday nearly 1.8 percent to $1,553.20, a new four-week low, in early afternoon trading amid pessimistic expectations of this week's European Union summit.

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Investors appeared dubious about whether European leaders would take the steps necessary to bring economic and political stability across the euro zone.

Since Feb. 29, gold prices slid 9.5 percent.

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