The precious metal dropped below $1,575 an ounce and Goldman Sachs cut its 2013 gold price forecast for the second time in six weeks, to $1,545 an ounce from $1,610.
After more than two years of delay, the Guatemalan Minister of Energy and Mines (MEM) announced it had approved the exploitation license for Tahoe Resources’ Escobal mine in San Rafael Las Flores, Guatemala.