Gold Bounces Back From 5 Year Low

Gold mining stocks bounced back on Monday after gold costs recuperated from five-and-a-half year lows.

To an intra-day low of $1,077 as investors, gold prices dropped on Friday offloaded the metal amid expectations that the US Federal Reserve will soon increase rates, thereby making it a less attractive investment.

Weaker dollar helped it recover., but after five successive weeks in negative territory, the gold spot price crept back towards the $1,100 mark on Monday morning as Nevertheless, analysts and investors indicated the enhancing gold cost not convinced them.