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26 Jun 2013
Gold plummets
FXstreet.com (London) - Gold is continuing to decline, dropping like a gold bar to a paddling pool. It has fallen by 20% since March and is heading towards its worse quarter since 1920. It may find support here, as even the bears might sight it as cheap acquisition target.
Gold is at its lowest level since August 2010, and an improving US economy is to blame while the Fed make’s whispers (loud) of reducing the economy’s stimulus package that had been the initial stimulus for bullion to rally.
Spot Gold is finding some bids around $1,227.60/50 currently after a sharp decline from 1,250 in European opening hours. Overnight, the metal dropped from $1,264.53.
Gold is at its lowest level since August 2010, and an improving US economy is to blame while the Fed make’s whispers (loud) of reducing the economy’s stimulus package that had been the initial stimulus for bullion to rally.
Spot Gold is finding some bids around $1,227.60/50 currently after a sharp decline from 1,250 in European opening hours. Overnight, the metal dropped from $1,264.53.