MMC
08-25-2011, 07:39 AM
Gold falls $200 from Tuesday's record high - Yahoo! News
Reuters – 20 mins ago.....
LONDON (Reuters) - Gold extended losses on Thursday to fall as much as $200 from Tuesday's record high, as investors favored assets seen as higher risk and after the CME Group hiked trading margins for the precious metal for a second time this month.
More quantitative easing -- or money printing -- for the Fed could significantly lift gold, but it could have further to correct if no additional action is signaled.
Spot gold was down 2.5 percent at $1,707.09 an ounce at 6:04 a.m. EDT, having earlier touched a low of $1,702.44. Investors lost faith in gold's latest rally after the yellow metal.
Spot prices fell 4.3 percent on Wednesday, their biggest one-day drop since December 2008, after U.S. durable goods data beat expectations. U.S. gold futures also posted their sharpest slide since 1980.
Gold's losses were exacerbated late on Wednesday after the CME Group raised margins on gold futures by about 27 percent, the biggest hike in more than two and a half years and the second increase in a month.
Assets seen as cyclical or higher-risk than gold rose on Thursday as gold declined. European shares climbed after a raft of positive corporate results, oil prices firmed and the euro strengthened against the dollar.U.S. gold futures for August delivery were down $47.50 an ounce at $1,409.80.....snip~
Today is the day. Sometime today anyways. Then we will know if Bernanke will print the QE3. UBS says gold stands to gain if Bernanke implements the QE3. Bernanke is suppose to explain Friday how the Fed will handle sluggish growth. Today all await Jackson Hole. Think Investors are betting on the Fed Intervention? Is there some other tie to why they want to focus so much on the name Jackson? I mean I know the left likes to sport those Jackson Dinners. Because if it has to do with burning holes in ones pockets. The left excels at this. Think QE3 will help gold bounce back? Thoughts http://www.politicalhotwire.com/images/smilies/POSITIVE/juggler.gif
Reuters – 20 mins ago.....
LONDON (Reuters) - Gold extended losses on Thursday to fall as much as $200 from Tuesday's record high, as investors favored assets seen as higher risk and after the CME Group hiked trading margins for the precious metal for a second time this month.
More quantitative easing -- or money printing -- for the Fed could significantly lift gold, but it could have further to correct if no additional action is signaled.
Spot gold was down 2.5 percent at $1,707.09 an ounce at 6:04 a.m. EDT, having earlier touched a low of $1,702.44. Investors lost faith in gold's latest rally after the yellow metal.
Spot prices fell 4.3 percent on Wednesday, their biggest one-day drop since December 2008, after U.S. durable goods data beat expectations. U.S. gold futures also posted their sharpest slide since 1980.
Gold's losses were exacerbated late on Wednesday after the CME Group raised margins on gold futures by about 27 percent, the biggest hike in more than two and a half years and the second increase in a month.
Assets seen as cyclical or higher-risk than gold rose on Thursday as gold declined. European shares climbed after a raft of positive corporate results, oil prices firmed and the euro strengthened against the dollar.U.S. gold futures for August delivery were down $47.50 an ounce at $1,409.80.....snip~
Today is the day. Sometime today anyways. Then we will know if Bernanke will print the QE3. UBS says gold stands to gain if Bernanke implements the QE3. Bernanke is suppose to explain Friday how the Fed will handle sluggish growth. Today all await Jackson Hole. Think Investors are betting on the Fed Intervention? Is there some other tie to why they want to focus so much on the name Jackson? I mean I know the left likes to sport those Jackson Dinners. Because if it has to do with burning holes in ones pockets. The left excels at this. Think QE3 will help gold bounce back? Thoughts http://www.politicalhotwire.com/images/smilies/POSITIVE/juggler.gif