Daniel Mankani "DynamicTrader – Trend Trading Dynamics" Trading for a living, systematically profiting from longer term trends.


Gold Poised for Worst Week This Year as Silver Drops to 2012 Low

Gold was set for its worst week this year after the U.S. Federal Reserve didn’t resume a debt purchase program even as the economy showed signs of slowing. Silver fell to the cheapest since December and platinum declined to a two-week low.

Spot gold fell 0.2 percent to $1,562.88 an ounce at 2:03 p.m. in Singapore and is down 4 percent this week, the most since the five days to Dec. 16. Bullion dropped 2.6 percent yesterday, the most since Feb. 29, tumbling with other commodities as the Standard & Poor’s GSCI Spot Index of 24 raw materials slumped 22 percent from this year’s closing high, entering a bear market.


Filed under: Commodities Comments Off
Comments (0) Trackbacks (0)

Sorry, the comment form is closed at this time.

No trackbacks yet.