Gold drops below $1,800 after central bank action *PIC*

Please feel welcome to join in on these informative ongoing discussions about trading futures and commodities.

The Trading Forum is intended for the open discussion of commodities trading. The management of this Forum does not agree or disagree with the ideas exchanged, and does not exert editorial control over the message posted herein. Read and post at your own risk. The risk of loss in trading or commodities can be substantial. We discourage the use of this Forum to promote trading that is acknowledged to be risky. Please note: many links from the Forum lead to pages on other web sites. We cannot take responsibility for nor endorse the information presented on those sites.

Forum Policy

Return to Index

TFC Commodity Trading Forum

Gold drops below $1,800 after central bank action ( GC1Z ) (by Laura Mandaro)

SAN FRANCISCO (MarketWatch) -- Gold futures deepened their decline Thursday after the European Central Bank announced a coordinated action with other central banks to provide U.S. dollar liquidity. Gold for December delivery (gc1z) was down $32.90, or 1.8%, at $1,793.1 an ounce, deepening losses from Asia and Europe trading as the U.S. session got into full swing. The coordinated central bank move came amid a series of largely lackluster U.S. economic reports and accelerating worries about European sovereign debt and bank-funding costs. U.S. stocks rallied, while Treasurys and the U.S. dollar dropped.

Forum Policy

Return to Index