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NEW YORK, MAKE MONEY BLOG - Gold futures posted the biggest drop in two weeks. At 13:55 pm New York time, the price of gold contract for December delivery fell 1 percent to 1590.70 dollars per troy ounce on the Comex in New York. This is the biggest decline for a most-active gold contract since July 18 last.
The decline in gold prices came after investors were disappointed with the President of the European Central Bank (ECB) Mario Draghi on their efforts to combat the debt crisis. After holding the benchmark interest rate at 0.75 percent level, Draghi said that policy makers will conduct open market operations and suppress the level of yield.
"Market participants are disappointed with Draghi statement. This is then suppress the gold price. We also did not hear any news from the Fed, yesterday," said Adam Klopfenstein, market strategist at Archer Financial Services Inc. in Chicago.
Meanwhile, the contract price of silver for September delivery fell two percent to 26.995 U.S. dollars per troy ounce in New York. This is the biggest drop since July 10 last. (Barratut Taqiyyah / Cash)
source: NEW YORK, KOMPAS.com - Gold futures posted the biggest drop in two weeks. At 13:55 pm New York time, the price of gold contract for December delivery fell 1 percent to 1590.70 dollars per troy ounce on the Comex in New York. This is the biggest decline for a most-active gold contract since July 18 last.
The decline in gold prices came after investors were disappointed with the President of the European Central Bank (ECB) Mario Draghi on their efforts to combat the debt crisis. After holding the benchmark interest rate at 0.75 percent level, Draghi said that policy makers will conduct open market operations and suppress the level of yield.
"Market participants are disappointed with Draghi statement. This is then suppress the gold price. We also did not hear any news from the Fed, yesterday," said Adam Klopfenstein, market strategist at Archer Financial Services Inc. in Chicago.
Meanwhile, the contract price of silver for September delivery fell two percent to 26.995 U.S. dollars per troy ounce in New York. This is the biggest drop since July 10 last. (Barratut Taqiyyah / Cash)
source: NEW YORK, KOMPAS.com - Gold futures posted the biggest drop in two weeks. At 13:55 pm New York time, the price of gold contract for December delivery fell 1 percent to 1590.70 dollars per troy ounce on the Comex in New York. This is the biggest decline for a most-active gold contract since July 18 last.
The decline in gold prices came after investors were disappointed with the President of the European Central Bank (ECB) Mario Draghi on their efforts to combat the debt crisis. After holding the benchmark interest rate at 0.75 percent level, Draghi said that policy makers will conduct open market operations and suppress the level of yield.
"Market participants are disappointed with Draghi statement. This is then suppress the gold price. We also did not hear any news from the Fed, yesterday," said Adam Klopfenstein, market strategist at Archer Financial Services Inc. in Chicago.
Meanwhile, the contract price of silver for September delivery fell two percent to 26.995 U.S. dollars per troy ounce in New York. This is the biggest drop since July 10 last. (Barratut Taqiyyah / Cash)
source: kompas.com
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