• Gold tumbles below $ 1150 an ounce, the lowest since the mid 2010



    The power of dollar and stocks were behind investors losing appetite for the precious metal
    Gold tumbles below $ 1150 an ounce, the lowest since the mid 2010


    The gold price dropped to less than $ 1,150 an ounce, the lowest level since mid-2010 to pave the way for a review of the level of 1,000 dollars as the dollar weakened and investors ' appetite for stocks of the precious metal that does not generate revenue. According to ' Reuters ' losses were more down to silver lowest price since February 2010, surpassing the $ 15 shortly thereafter. Gold price fell in online transactions to 1143.66 dollars an ounce (ounce) registered the lowest level since April 2010, before recovering a bit, trading down 2.0 percent at 1145.05 dollars an ounce, analysts said that the metal has a level of 1,000 dollars an ounce after the home without the support level of $ 1,150. But other analysts said the absence of strong buying from China and India as markets present gold transactions; weak technical factors reinforce expectations of a further decline.

    S PHP De R gold trust holdings of a fund Decreased ' largest Fund indicators supported by gold in the world to the lowest level in six years, highlighting the precious metal investors, and buying jewelry an immediate climb, coins and gold bars, which usually recover with lower prices enough to support prices. The precious metal lost around 1,000 dollars an ounce last week to restore the memories of the stunning drop over two days last year, launched a huge selling wave after 12 years of gains, gold futures fell US $ 23.20 to $ 1144.40 an ounce. On the other hand, the silver landed around 5 percent to the lowest price in the four and a half years at $ 15.17 in trading fell 4.4 percent to 15.28 dollars. Among other precious metals Platinum price down 1.3 per cent to $ 1197.10 an ounce, while Palladium fell 2.6 percent to 762.45 dollars an ounce.

© All Rights Reserved for Asharqia Chamber