(MarketWatch) — Gold futures on Friday notched their biggest one-day percentage drop in five years and their biggest one-day dollar drop since Aug. 24 as investors pulled out metals in search of cash and Treasurys. Gold for December delivery declined $101.90, or 5.9%, to settle at $1,639.80 an ounce on the Comex division of the New [...]
(Reuters) – The vast majority of South Africa’s gold lies deep underground but atop the mine dumps scattered around Johannesburg, you can actually walk on the stuff. “You’re standing on gold right now,” said Charles Symons, chief operating officer for DRDGold, as he surveys a yawning crater 30 meters (90 feet) deep and 250 meters [...]
Prices of precious and base metals continued to drift lower on Friday in European trading hours, though selling was not as extreme as the prior, brutal session. Gold futures for December delivery fell $2.30 to $1,739.40 an ounce in electronic trading after settling around $1,741.70 on Thursday. The dollar index , which measures the U.S. currency against [...]
Gold fell by more than 3 percent on Thursday, set for its largest monthly decline since January, after the Federal Reserve’s move to boost U.S. growth lifted the dollar, which battered thecommodities complex. Adding to the pressure was a key gauge of Chinese manufacturing that showed a third consecutive month of contraction, which sent palladium [...]
Gold rose for the first day in three, paring its worst weekly performance in more than four months, as concern the world economy will falter stoked demand for haven investments. Immediate-delivery gold gained as much as 0.9 percent to $1,754.93 an ounce, and traded at $1,745.75 at 10:50 a.m. in Singapore. The metal is down 3.6 [...]
Gold fell $66.40, or 3.7 percent, to finish at $1,741.70 an ounce on Thursday. Silver, a precious metal that has wider demand for industrial production, plummeted $3.89, or 9.6 percent, to $36.58. Analysts said that much of the selling was driven by margin calls for hedge funds and other big investors. “We’re seeing hedge funds [...]
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