Gold and silver drop to lowest level in 4 years
Gold and silver drop to lowest level in 4 years
31/10/2014 09:43 GMT
Follow-up – and babysit – Duck gold and silver on Friday to their lowest levels since 2010 with the release of strong economic data, and the rise of the dollar as well as the sale of stop-loss orders led to the acceleration of the descent of the miners.
Gold and silver hit hard after the rise of the dollar to its highest level in nearly four weeks against a basket of major currencies on Friday. The dollar found support in the US GDP data sudden and strong step taken by the Central Bank of Japan to expand its monetary easing, which has led to a decline in the yen.
And went down the price of gold in online transactions more than two percent to $ 1168.66 an ounce (an ounce), its lowest level since July 2010. The yellow metal accelerated losses after the announcement of the Bank of Japan’s sudden decision which prompted the dollar to its highest level in the meeting.
And dropped the price of gold in US futures contracts also.
The precious metal tends to end the week on a loss of 4.7 percent this week, the biggest drop of its kind from June 2013. It also tends to a second gold record monthly losses in a row.
The price of silver fell about three percent to $ 15.94 an ounce on Friday registered its lowest level since February 2010. The metal tends to incur a fourth monthly loss in a row.
Platinum fell 1.37 percent to $ 1220.74 an ounce, while palladium fell 0.46 percent to $ 770.95 an ounce.
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