Monday 15 February 2016

Gold futures fell sharply



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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