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How does the falling price of gold affect you?

After a dazzling rise to more than $1,900 an ounce, the yellow metal has clearly lost its luster. The price of bullion has slumped by 10 percent since the end of last week, down to $1,420 an ounce.

Gold prices are down again this morning, after falling by more than 10 percent since Friday -- its biggest drop in 30 years. Oil prices are also lower.

But how do these drops in commodity prices affect your wallet?

Marketplace's Senior Producer of personal finance Paddy Hirsch joins Morning Report Host Jeremy Hobson to explain.

 

About the author

Paddy Hirsch is a Senior Editor at Marketplace and the creator and host of the Marketplace Whiteboard. Follow Paddy on Twitter @paddyhirsch and on facebook at www.facebook.com/paddyhirsch101
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