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Commodities Briefing - Categorized | Bullion/Gold, Currencies, Energy, Market Moves, Oil, Price Watch more

Gold heads for worst monthly slump in 25 years on dollar, oil

Posted on 31 October 2008

From Bloomberg: Gold fell for the second day in Asia, extending a monthly drop that may become the worst in more than 25 years, as a stronger dollar and declines in crude oil reduced its appeal as an alternative asset.

Gold tumbled by more than 15 percent this month, the largest plunge since February 1983, according to Bloomberg data. Oil has slumped 37 percent while the U.S. dollar index against six major currencies gained 7.3 percent this month….. Full Article: Source


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