Global gold prices slide to lowest since July 2011

This is due to pressure from losses on the wider financial markets

Gold hit its lowest since July 2011 on Friday, under pressure from losses on the wider financial markets and strength in the dollar, with selling accelerating sharply as prices broke through their 2012 low at $1,527 an ounce.

Spot gold fell to a low of $1,510.80 an ounce and was down 3% at $1,514.56 an ounce at 1442 GMT.