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Thursday, December 29, 2011

Gold!!! cont...

Dec 29th, 2011

More on the growing crisis via IndiaInfoLine:

"Gold plummeted yet again today; witnessing a free fall to extend its mega downward lurch towards its September lows. The metal has been getting hammered amid year end trades and the primary influencing factor is yet again the US dollar. Dollar broke under 1.2900 levels against the Euro today, extending its recent rally to test fresh highs for the current year as European stock markets pared earlier gains after mixed results from the auction of Italian longer-dated government bonds. Yields on three and 10-year debt fell as Italy sold €7.017 billion ($9.07 billion) in the auction, though the amount fell short of the expected €8.5 billion. "

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