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Commodities Briefing - Categorized | Bullion/Gold, Price Watch more

Gold in free fall amid rout in commodities, stock

Posted on 16 April 2013

Gold prices plunged again amid a general rout in commodities, sinking below $1,400 (U.S.) an ounce to mark a decline of about $200 over two days of trading. Shares of big gold producers also slumped as bullion chalked up its biggest single-day decline, in percentage terms, since early 1983.
“When gold begins to fall, it sparks margin calls, and then it’s a vicious circle,” said chief currency strategist Camilla Sutton of Bank of Nova Scotia. Just about everything looked ugly today: Silver, copper and oil also sank, as did stocks and currencies such as the Canadian dollar, which was down on a number of factors, including the decline in bullion………………………………………..Full Article: Source


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