Why has the futures price of Gold plummeted this morning? - gold futures prices
I just read, put that "idea of gold went back significantly, by renewed worries about credit markets under pressure, falling stock prices and rising dollar. Why is any of these things, that the gold price in the fall and do you no further reason reason why gold so after this morning?
Saturday, January 9, 2010
Gold Futures Prices Why Has The Futures Price Of Gold Plummeted This Morning?
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Anyone answering this question is, what the cops. Basically this is what happens:
Gold seen as a hedge against the dollar. When the dollar falls, investors, the gold medal, according to them, so it has lost in the world as the push dollar. All the things I mentioned in your question the result of the rising dollar against other currencies. Accordingly, with the slogans of the dollar, people dumping gold and return to the good old U.S. $.
U.S. dollars hits new low against euro, pound
The dollar fell to new lows against the euro and the pound Monday and was mixed against other currencies in European trading. Gold prices fell.
The euro is traded at $ 1.3816 against $ 1.3822 late on Friday in New York. It reached $ 1.3846 in Asian trade Monday all time high. Later, in midday trading in New York, the euro was $ 1.3814.
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The British pound was quoted at $ 2.0593, compared with $ 2.0549 on Friday. Earlier in the day $ 2.0603 a pound, 26-year high costs reached against the dollar.
Prices in U.S. dollars, others in Europe compared with late Friday, included 121.28 Japanese yen from 121.24, 1.2048 Swiss francs from 1.2013 and $ 1.0431 CDN, down 1, 0479th
At noon, New York market, the dollar bought 121.37 yen and 1.2058 Swiss francs, while the pound worth $ 2.0582.
Gold traded in London $ 681.85 per ounce, compared with $ 682.60 late Friday. In Zurich, was to negotiate gold $ 680.90 per ounce, compared to $ 681.35. In Hong Kong,Gold rose $ 6.60 to close at $ 682.95.
Silver traded in London at $ 13.27 per troy ounce, down from $ 13.36
That's nothing. Observe carefully what happens to the value of one U.S. dollar over the next two years.
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