The Naked Truth - Big Kahuna a Myth Message Board

STOCKTALK

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor. We ask that you disable ad blocking while on Silicon Investor in the best interests of our community. If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.

Pastimes : The Naked Truth - Big Kahuna a Myth

Public Reply Prvt Reply Mark as Last Read File

Previous 10 Next 10 Previous Next

To: NickSE who wrote (45777)	6/8/1999 7:24:00 PM
From: NickSE	Read Replies (2) of 86076

Gold hits 20-year low on spot plunge NEW YORK (CBS.MW) -- Gold futures fell to a 20-year low Tuesday after the cash price of the precious metal dropped below a key trading level in Asia and Europe and ahead of a massive sale of gold by the U.K. government next month. August gold fell $3.40 an ounce to $263.80 after hitting a contract low of $262.80 during the day on the COMEX in New York. A decline in the spot gold price in Asia and Europe below $265 an ounce sparked a plunge in the futures price throughout Tuesday's session in the U.S., said Dave Meger, metals analyst for Alaron Trading. The gold market also suffered from the "looming dark cloud" of the U.K. sales. On July 6, the U.K. will begin the first of five, 25-ton auctions, which represents a total of 125 tons -- more than half of the country's gold reserves. "People are sidelined now that we know these sales are coming," said Meger. It would make no sense to enter the market now when the price of gold is expected to be lower and cheaper later, he added... cbs.marketwatch.com

Report TOU Violation

Share This Post

Public Reply Prvt Reply Mark as Last Read File

Previous 10 Next 10 Previous Next