Gold futures fell sharply today amid increased interest in riskier
assets after Japanese stocks jumped by 7% this morning.
The April contracts of yellow metal dropped by 2.3 % or $28.20
to $ 1211.10 per ounce, after last week recorded its biggest jump from December
2011 onwards as added 7.10 % to its value, which today caused extended sales.
Gold was shining
with a fourth weekly gain amid the crushing global equities, the collapse
of crude prices and the weaker dollar. The
fate of the global economy has revived the safe-haven status of gold after
years of being treated like the underdog on financial markets.
Last week gold
deliveries for April raised with 7.03% and on Friday ended at $1,239.10 an
ounce on New York's Comex. Last week they were seen at $1,1157.70 an ounce.
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