Apr 17, 2013

How does the falling price of gold affect you?

Gold prices are down again this morning, after falling by more than 10 percent since Friday. Oil prices are also lower. But how do these drops in commodity prices affect your wallet?

Money Mattersby Paddy Hirsch

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. — 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.
SAM PANTHAKY/AFP/Getty Images

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.

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