Sharp drop in gold prices! The lowest level in 13 months was seen.

As the gold market enters the last trading day of the week, sharp price movements are being experienced. Inflation data in the US exceeding expectations, interest rate hike messages from Central Bank (Fed) officials, and the strengthening of the dollar increased selling pressure on the precious metal. While spot gold saw its lowest level in the last 13 months at 3,853 dollars, gram gold also declined to 6,225 lira. Despite reaction purchases from bottom levels, gold is on track to close the week with a loss.

From Haberler.com