Futures Market News
Gold futures mark four consecutive days of losses
Apr 18, 2012 11:47 AM
"From my point of view, we have to see a good shakeout towards the downside first, perhaps to break $1,600, or even lower than that and after that we will probably head back up again," trading head Afshin Nabavi with MKS Finance told Reuters. "We are seeing very little demand from the physical dealers, very little demand from the investors, it's pretty much come to a standstill and I think we have to come off" as far as price is concerned.
At 9;27 a.m. on Wednesday, gold futures fell 0.42 percent, a $7 drop to $1,644.10 per troy ounce.
The sovereign debt crisis, wreaking havoc on euro zone banks, markets and public finance systems for two-plus years, is fully capable of manifesting again, attacking global economies and prompting a recession, News Track India reports the International Monetary Fund said.
Don’t Miss Our News Updates!
Follow our breaking news stories and get a unique take on current events that may impact the commodity futures markets. Multiple new articles are posted each weekday. Subscribe to our commodity news updates by email, and receive real-time updates with our RSS feed, follow us on Twitter @DanielsTrading, become a fan on Facebook to stay informed.
SPECIAL OFFER: Euro/Dollar in a Time of Crisis
Sign up for our FREE report and gain insight about the current global crisis through our extensive research and analysis!
Download this exclusive report as we examine current global events, the present impacts on market prices and volatility, and potential outcomes of the Eurozone crisis.
Register for Your Free 2-Week Trial of the dt Insider Market Advisory!
With your free trial membership, you'll receive full access to our exclusive trade recommendation service and all of the timely and accurate trade information you need to feel comfortable participating in the markets.