16-04-2013, 12:00 AM
Gold today is now at the lowest price for 2 years....
http://www.abc.net.au/news/2013-04-15/go...ff/4629072
Quote:The spot gold price has fallen below $US1,500 an ounce for the first time since July 2011.Gold prices slipped more than 5 per cent on Friday, officially putting it in bear market territory.
The gold market is now down 23 per cent from the peak of $US1,920 an ounce it hit in September 2011.
Institutional investors are fleeing bullion on worries that central banks are reducing holdings of the commodity, and as some prominent investment banks recommend that clients sell.
Last week, Goldman Sachs issued a note to its clients advising them to get out of gold.
"Given gold's recent lackluster price action and our economists' expectation that the acceleration in US growth later this year to above-trend pace will support US real rates, we are lowering our US dollar-denominated gold price forecast once again," the investment bank wrote in a note to customers on April 10.
http://www.abc.net.au/news/2013-04-15/go...ff/4629072
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"He would, wouldn't he?" Mandy Rice-Davies. When asked in court whether she knew that Lord Astor had denied having sex with her.
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"He would, wouldn't he?" Mandy Rice-Davies. When asked in court whether she knew that Lord Astor had denied having sex with her.
“I think it would be a good idea” Ghandi, when asked about Western Civilisation.