Gold falls to its lowest level in three and a half months due to weak Chinese demand


Landed gold prices to their lowest level in three and a half months during the Asian trading on Wednesday extended sharp losses suffered by the previous session on fears of slowing demand in China, the largest consumer of the precious metal and U.S. economic data strong reduced the attractiveness of gold as an investment hedge against inflation .
The decline in the price of the yellow metal in online transactions to 1260.74 dollars per ounce , the lowest level since early February , before recovering the n 1263.80 dollars by 04:00 GMT .
Gold ended the previous session at a loss of 2.3% in the biggest drop for a single day since December .