Gold price drops $97 to September 2010 level

The sell-off on precious metals markets comes after chairman Ben Bernanke hinted the US Fed Federal Reserve's ultra-loose monetary policy may come to an end this year.

The Fed has been reviewing its quantitative easing program and is eager to throttle back asset purchases at the first signs of a solid economic recovery in the US.

When the Fed starts tapering off QE, which floods markets with cheap money, it will further strengthen the US dollar and tarnish gold's status as a storer of wealth.

Read More: www.mining.com/gold-price-drops-97-to-september-2010-level-29639/