(Reuters) – Gold slid to a 6-1/2 week low on Friday, setting the stage for its sharpest weekly drop since December 2008 as it tracked a heavy sell-off in the commodities complex, under pressure as traders sold bullion to cover losses in other assets. At 1343 GMT, spot gold fell to $1,687.54 a troy ounce, having [...]
After a month of unprecedented volatility that has rattled some investors’ confidence in gold’s decade-long winning streak, the question is obvious: Is this what the popping of a gold bubble looks like? The answer, of course, isn’t obvious. The bursting of asset bubbles is best seen in retrospect, and gold’s 10 percent decline from a record [...]
(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 [...]
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