OTCQX:BGMZF - Post by User
Comment by
halcroon Feb 15, 2016 8:14pm
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Post# 24560316
RE:a little reality action for the gold Bugs
RE:a little reality action for the gold Bugs https://www.wsj.com/articles/gold-prices-fall-sharply-as-stock-markets-gain-1455538463
DOW JONES, A NEWS CORP COMPANY
Gold Prices Fall Sharply as Stock Markets Gain
Many analysts believe that gold had got ahead of itself
By Katherine Dunn Feb. 15, 2016 7:14 a.m. ET
LONDONGold prices fell sharply on the London spot market Monday, as equity markets reversed some of the steep losses that have, this year, encouraged investors to push the price of the metal to a one-year high.
Spot gold was down 2.26% at $1,209.20 a troy ounce in morning European trade. On Thursday, a tumultuous week pushed the metal to its highest price since February 2015 at $1,263.37 an ounce, on the back of safe-haven demand. Gold prices are still up 14% since the year began.
A bit of the panic around global financial markets is coming off today, said Simona Gambarini, a commodities economist at Capital Economics in London.
On Monday, European stocks were rallying after Japans Nikkei Stock Average rose 7.2%, and battered bank and auto-sector shares gained.