For more news and videos visit ➡ http://english.ntdtv.com<br />Follow us on Twitter ➡ http://twitter.com/NTDTelevision<br />Add us on Facebook ➡ http://on.fb.me/s5KV2C<br /><br />n China, gold is one of the most popular investments. But losses in bulk commodity future markets and a stronger dollar saw a sharp drop in gold prices earlier this week. Here's more.<br /><br />Gold prices lowered on Tuesday, as the dollar strengthened against the yuan. It also comes as bulk commodity markets slumped, and non-ferrous metals took a sharp decline.<br /><br />The day ended with a 2.75% drop in gold prices down to $53.33.<br /><br />[Zhang Yingying, Galaxy Futures Broker Gold Analyst]:<br />“Gold prices began to slump in early trading in Asia yesterday. It was not caused by sudden, unexpected factors. It was generally the response to the fiscal austerity measures reached at the European Union summit last Friday. The summit failed to work out practical measures on how to amend the EU Treaty. That's the core issue and the major concern of the market. Nor did the summit make any substantial plans on how to tackle the euro zone debt crisis or help funds to materialize.”<br /><br />For the fourth time this year, Beijing gold retailers lowered gold jewelry prices to just under $66 per gram.
