By Daniel Hunter

The price of gold has fallen to its lowest point for five years as speculation of an US interest rate rise continues.

Prices dropped 4% to $1,088.05 (£697) an ounce in Asian trading - its lowest since March 2010. It was also the first price gold traded below $1,100 since the same month.

Market analysts said investors turned to the US dollar as an interest rate rise looks likely this year.

Platinum prices also fell 5% to its weakest level since the financial crisis.