Search This Blog

Showing posts with label Bin Laden. Show all posts
Showing posts with label Bin Laden. Show all posts

May 2, 2011

Gold falls, silver drops 4 pct after bin Laden death - Yahoo! News


Gold falls, silver drops 4 pct after bin Laden death


NEW YORK (Reuters) - Gold fell from a record high on Monday and silver notched its biggest one-day loss in seven weeks after the killing of Osama bin Laden sapped the safe-haven premium out of precious metals.


Silver bounced off early lows after falling as much as 11 percent, as speculators scaled back their bullish bets on increased futures margins and a technical overhang after a 170 percent rally over the last 12 months to a record high last week.
Gold initially rose to a record high for a fourth consecutive session, but news of the al Qaeda leader's killing by U.S. forces sent gold down almost 2 percent. The CBOE gold volatility index, a gauge of bullion investor anxiety, posted its biggest-ever two-session gain since its inception in September last year.
"People are pulling out of gold and going back into the equity market, as the news had a de-risking effect on the geopolitical environment," said Steven Faber, analyst at Haber Trilix Advisors, which manages $2 billion in assets.
Investor buying later lifted bullion off its lows after data showed U.S. manufacturing activity slowed in April for a second straight month but input prices reached their highest level in nearly three years.
Spot gold was down 0.4 percent at $1,558.09 an ounce by 2:26 p.m. EDT (1826 GMT), after hitting a record high for a fourth straight session at $1,575.79. U.S. June gold futures settled up 70 cents at $1,557.10 after ranging from $1,540.30 to $1,577.40.

ShareThis

Tags

IFTTT Twitter MasterMetals News Gold MssterMetalsNews MasterMetalsNews mining stocks Commodities Mining GLD Silver Oil COPPER China Metals Dollar Energy Precious Metals MasterEnergy GDX trading Hedge Funds EV Battery Metals Finance exploration GDXJ Glencore USA ETF Platinum Africa Canada Chile Nickel Technical Analysis Charts Euro LME Lithium BHP Base Metals Iron Ore Latin America Australia Cobalt Futures Uranium central banks CME IPO Palladium RIO SIL SLV TSX middle east Asia Barrick DRC FED India PSLV Russia South Africa Trafigura Venezuela comex zinc Argentina Batteries Bonds Chavez Debt Ecuador Kinross PPLT Renewables coal currencies AEM Anglo American AngloGold Bitcoin Iran JPMorgan Chase Japan Mexico NEM Peru Switzerland TSXV VALE Agriculture BP Brazil EQX Education FCX Gas London Lundin Metals Streaming NYMEX Newmont Nuclear Oreninc PGM Roxgold Royalties Sprott Turkey UK Vitol WGC infographic Autonomous Vehicles Azimut Banks BlockChain CFTC CODELCO COT Cerrado Gold Colombia Cote d'Ivoire EDV Egypt Electricity FIL FSM Filo Financings GATA Goldman Sachs Guinea HFT IVN Indonesia Irak LSE LUG Loonie MENA Mongolia NGEx Oro PIIGS RUP Rare Earths REE Robert Friedland Rupert Resource S&P SQM Saudi Arabia Strategic Metals Tsingshan UAE VC VW Yuan money quebec rare earths 1971 1979 AAUC ADM AGI ALB ARIS ATY AU AUY AZM Abu Dhabi Agarwal Alaska Antimony BIS BTG Bill Clinton Bin Laden CBX CCB CITGO CMOC Cameco Cargill Cars Chuquicamata Clice Capital Cobalt27 CoronaVirus Covid19 Critical Metals Crypto DJIA DOJ DPM Defense Demographics Djibouti E-Waste EGO EM ESG El Dorado Endowments Environment Europe FVI Fav Finland Food ForEx Frank Giustra Freeport McMoran GBP GDP GFI GFMS GMIN Ghana Graphite Great Be Greece Green Energy Gundlach Gunvor HPX Haftium IAG IOC Inflation KGC KL Kazakhstan Kurdistan LBMA Louis Dreyfus Lunahuasi M&A MAKO MF Global Mercuria NDM Nigeria Northern Dynasty Oman Orion Osisko PDVSA PEA PEMEX PG Pebble Project Politics Private Equity Rabbit Recycling Repsol Research Rhenium Rhodium Rusal SBSW SKE SSRM SWF Sensors Shale TGZ Tariffs Tech Tesla Texas Trump Ukraine VGCX VIX Victoria Gold WPM Warren Buffett XAU XGD XStrata YPF Yen Yukon Zambia diamonds spoofing stocks supply chain zinc News