Gold Bounces Back Amid Cyprus Concerns, Bolstered by Asian Buying
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April 16, 2013 2:32 PM EDT
This week gold and silver were the talk of the town on Wall Street after panic sent precious metals sharply lower. There is no shortage of theories about gold's massive plunge - everything from Cyprus central bank selling, a large margin call, fears of Fed tightening, ETF liquidation, and so on. Whatever the case, it's clear that... More
April 15, 2013 2:54 PM EDT
Gold is having a tough day, dropping over $140 per ounce in New York. Reports have the move as the largest one-day drop in the precious metal since 1983 and the worst two-day drop... More
April 15, 2013 11:34 AM EDT
Last Friday Citi put out a very bearish note on commodities, saying the 'death bell' rings for the commodity supercycle. The report coincided with a technical breakdown in gold. Taken together with lingering concerns about tighter Fed monetary policy, the news sent gold prices below $1500 per ounce. That's where the story began.
This morning Citi followed up the note with a downgrade of copper name Freeport-McMoRan... More
