Date: 15-04-2013
Source: Reuters
Gold headed for its biggest two-day drop in 30 years on Monday as funds accelerated their exits from the market, and investors also cut exposure to oil, copper and grain after underwhelming Chinese growth data.
The precious metal slid further into bear territory, dropping more than $30 in a matter of minutes at one point. Losses widened to more than 6 percent at the lows as prices breached support at $1,400 per ounce after falling 5.3 percent on Friday.
Oil fared scarcely better, dropping by as much as nearly 3 percent. Other precious metals were caught in the downdraft, with silver briefly dropping 10 percent, and industrial metals plummeted, with copper hitting its lowest in over a year. In the grains market, wheat, corn and soybeans fell.
Both oil and gold have been under substantial selling pressure. Bullion has come off worst, shedding around 9.5 percent since last Monday’s close, while crude has lost about 3.5 percent. Den Rest des Beitrags lesen »
Du muss angemeldet sein, um einen Kommentar zu veröffentlichen.