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

Gold plunges on global woes

Posted on 14 November 2008

From Etaiwannews.com: Gold prices plunged Wednesday as investors, fearful that a prolonged economic downturn will result in a sharp drop in demand for basic materials, continued their exodus from commodities. Investors have fled both commodities and stocks amid a worsening global economic crisis.

“The amount of money leaving the (commodities) niche has been significant,” said Jon Nadler, senior analyst at Kitco Bullion Dealers Montreal. “The crisis that has been unfolding and the contagion that has spread globally has basically shown most of the fund participants in the commodities niche that the exit door was the quickest solution.”….. Full Article: Source


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