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Gold has longest losing streak since October

Posted By admin On March 3, 2009 @ 11:16 am In Money Watch | Comments Disabled

London Telegraph [1]
Tuesday, March 3, 2009

Stock market futures rose after yesterday’s 4.7pc decline left the Standard & Poor’s 500 Index at the cheapest price relative to earnings since 1986. Before today, gold had gained 6.3pc this year, topping $1,000 an ounce on February 20 for the first time in 11 months.

“Another sector rotation could take place with speculative funds abandoning safe-haven assets to pile into oversold equity markets,” said Jon Nadler, a senior analyst at Kitco in Montreal.

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Gold has longest losing streak since October obamadecept 340x169 [2]

Gold futures for April delivery fell $14.30, or 1.5pc, to $925.70 an ounce at 9.09am on the Comex division of the New York Mercantile Exchange. The metal dropped 6.2pc in the previous six sessions.

Silver futures for May delivery fell 33 cents, or 2.5pc, to $12.74 an ounce. By yesterday the metal had risen 16pc so far this year.


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URLs in this post:

[1] London Telegraph: http://www.telegraph.co.uk/finance/personalfinance/investing/gold/4933185/Gold-has-longest-losing-streak-since-October.html

[2] Image: http://www.prisonplanet.tv/subscribe.html

[3] Gold rises to three-month high as weaker dollar spurs demand: http://www.prisonplanet.com/gold-rises-to-three-month-high-as-weaker-dollar-spurs-demand.html

[4] Gold Posts Biggest Monthly Drop in 28 Years as Dollar Climbs: http://www.prisonplanet.com/gold-posts-biggest-monthly-drop-in-28-years-as-dollar-climbs.html

[5] Analysts Foresee $1,300 Gold By Year-End: http://www.prisonplanet.com/analysts-foresee-1300-gold-by-year-end.html

[6] Gold Rebounds After Biggest Three-Day Decline Since 2008 Spurs Purchases: http://www.prisonplanet.com/gold-rebounds-after-biggest-three-day-decline-since-2008-spurs-purchases.html

[7] Gold Rebounds as Decline Below $800 Spurs Buyers; Silver Gains: http://www.prisonplanet.com/gold-rebounds-as-decline-below-800-spurs-buyers-silver-gains.html

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