FINANCIAL CHRONICLE™
Dear Reader,

Registration with the Sri Lanka FINANCIAL CHRONICLE™️ would enable you to enjoy an array of other services such as Member Rankings, User Groups, Own Posts & Profile, Exclusive Research, Live Chat Box etc..

All information contained in this forum is subject to Disclaimer Notice published.


Thank You
FINANCIAL CHRONICLE™️
www.srilankachronicle.com


Join the forum, it's quick and easy

FINANCIAL CHRONICLE™
Dear Reader,

Registration with the Sri Lanka FINANCIAL CHRONICLE™️ would enable you to enjoy an array of other services such as Member Rankings, User Groups, Own Posts & Profile, Exclusive Research, Live Chat Box etc..

All information contained in this forum is subject to Disclaimer Notice published.


Thank You
FINANCIAL CHRONICLE™️
www.srilankachronicle.com
FINANCIAL CHRONICLE™
Would you like to react to this message? Create an account in a few clicks or log in to continue.
FINANCIAL CHRONICLE™

Encyclopedia of Latest news, reviews, discussions and analysis of stock market and investment opportunities in Sri Lanka

LISTED COMPANIES

Submit Post

Poll

Can there be another Covid-19 wave in Sri Lanka?

 
 
 

View results

STOCK MARKET TRAINING
ශ්‍රී ලංකා මූල්‍ය වංශකථාව - සිංහල
Submit Post


CONATCT US


Send your suggestions and comments

* - required fields

Read FINANCIAL CHRONICLE™ Disclaimer



Latest topics

» SEMB the ASPH
by soileconomy Today at 9:31 pm

» Browns bullish on investments in local, international hotels
by SAGA Today at 8:23 pm

» EXPOLANKA HOLDINGS PLC (EXPO.N0000)
by cseguide Today at 8:22 pm

» Top Foreign Trading today
by SAGA Today at 8:20 pm

» Sell EXPO Buy EDEN sentiment changed to Exit EXPO Enter EDEN
by ADVENTUS Today at 4:45 pm

» Top crossings today
by SAGA Today at 2:53 pm

» LAUGFS GAS PLC (LGL.N0000)
by Wickyz Today at 2:06 pm

» Sri Lanka’s 213 billion rupee money printing to repay foreign debt: Treasury Secretary explains
by CITIZEN Today at 11:25 am

» Oman shows interest in SLAF HQ land and Chalmer’s Granary
by dayandacool Today at 11:03 am

» HVA FOODS PLC (HVA.N0000)
by prabath Today at 10:05 am

» EXPOLANKA HOLDINGS PLC Interim Financial Statements quarter ended 30th June 2021
by mah2903 Today at 2:59 am

» ලාභ ගන්න කොටස් වලින් මේක සම්පූර්ණයෙන්ම කියවන්න
by ColomboCSE Today at 12:37 am

» Shares to Buy
by Cma Today at 12:02 am

» Successful investment strategies require an understanding of the forces of stock market nature, and disciplined rules of portfolio management.
by Asoka Samarakone Sat Jul 31, 2021 9:12 pm

» LANKA ALUMINIUM INDUSTRIES PLC (LALU.N0000)
by Niwa Sat Jul 31, 2021 8:53 pm

» Directors' Dealings today
by SAGA Sat Jul 31, 2021 6:02 pm

» CHEVRON LUBRICANTS LANKA PLC (LLUB.N0000)
by Antonym Sat Jul 31, 2021 5:37 pm

» Boga unusual Collection....
by Wickyz Fri Jul 30, 2021 1:14 pm

» MILLENNIUM HOUSING DEVELOPERS PLC (MHDL.N0000)
by jehan008 Fri Jul 30, 2021 1:11 pm

» Sri Lanka FOB prices for black tea highest in the world
by samaritan Fri Jul 30, 2021 12:18 pm

EXPERT CHRONICLE™

MARKET CHAT


CHRONICLE™ ANALYTICS


ECONOMIC CHRONICLE

GROSS DOMESTIC PRODUCT (GDP)


CHRONICLE™ YouTube

LATEST TWEETS

You are not connected. Please login or register

FINANCIAL CHRONICLE™ » DAILY CHRONICLE™ » After 12 years of boom, gold prices bust

After 12 years of boom, gold prices bust

Go down  Message [Page 1 of 1]

1After 12 years of boom, gold prices bust Empty After 12 years of boom, gold prices bust Sat Apr 13, 2013 5:04 pm

Redbulls

Redbulls
Director - Equity Analytics
Director - Equity Analytics
"The scale of the decline has been absolutely breathtaking.”

For the first time in 12 years, the gold price is now officially in decline.

"The scale of the decline has been absolutely breathtaking. We tried to rally and that just didn't get anywhere ... there hasn't been any downside support, it's like a knife through butter," Societe Generale analyst Robin Bhar said.

Gold fell below $1,500 an ounce on Friday, a drop of more than 20% from its record 2011 highs, putting it in bear market territory for the first time since 2001.

The metal was heading for a 4.9% decline this week, its third such drop in a row and the biggest since December 2011. It was down some 22% below the record peak hit in September 2011 at $1,920.30.

What’s driving the fall?

An unexpected contraction in US retail sales, which hurt stocks and supported the dollar on Friday, added to pressures building in the course of the week from several factors, including a draft plan for Cyprus to sell bullion and outflows from exchange-traded gold funds.

A European Commission assessment of what Cyprus needs to do as part of its European Union/International Monetary Fund bailout earlier this week showed it was set to sell gold reserves to raise around €400 million.

While Cyprus' gold sale in itself is small, heavily indebted eurozone nations such as Italy and Portugal could also find themselves under increasing pressure to put their bullion reserves to work.

"If Cyprus can break the gold market, then (there are) many reasons to be worried, with Slovenia, Hungary, Portugal, Spain and Italy in line," Milko Markov, an investment analyst at S.K. Hart Management, said.

"It is a make-or-break moment for gold ... if the market can't handle the reallocation and Cyprus, then there is really a need for a bear market."

Gaining downwards momentum

Gold's losses accelerated sharply after it fell through $1,521 an ounce, its December 2011 low, and a fall below this key price point could signal further losses are on the way, according to analysts who study past price patterns for clues on the future direction of trade.

This has seen investors continued to sell off gold, with total holdings at the world's major bullion gold-backed exchange-traded-funds falling to their lowest since early 2012.

Precious metals sold off across the board, with silver the biggest faller, down 4.5%. Other commodities also came under pressure, with Brent crude oil hitting an eight-month low.

[Source: Reuters]
http://uk.finance.yahoo.com/news/after-12-years-of-boom-gold-prices-bust-175201756.html

Back to top  Message [Page 1 of 1]

Permissions in this forum:
You cannot reply to topics in this forum