Gold prices dropped below $700 an ounce for the 1st time in over a year as rising dollar and stock markets meltdown forced investors to sell the yellow metal in order to pay losses. For full story, click here
Continue reading "Gold falls below $700 as investors sell to pay losses in equities"
Friday, October 24, 2008
In continuation of the last four day’s fall, price of the yellow metal lost another 4 per cent on Friday. The COMEX December futures was near $685 an ounce. Harish Gallipeli, research head, Karvy Comtrade, said: The fall is due to the extended strength in the dollar while liquidity pressure persists. As traders utilize their profits from positions in [...]
Continue reading "Gold falls 4%, moving towards $675"
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Friday, October 24, 2008