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Bank's sale sends the gold price into freefall
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THE gold price tumbled to fresh 20-year lows today, continuing
yesterday's slide after the Bank of England sold off 25 tonnes of its
gold bullion reserves.
Just minutes after the start of European trading the gold price
was quoted at $255.50 an ounce, well below the $257.10 trough hit
yesterday.
Lawrence Eagles, head of commodity research at GNI, said: "Lots of
people thought that once the auction was out of the way prices would
rally. But the bids were on the low side, which caused a wave of
panic selling.
"Although the ...
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Gold price soars by $15 1/2 on sales freeze
; THE gold price today soared nearly $16 to its highest...for at least five years, except for 2000 tonnes of bullion already earmarked for sale...certainly removes the excessive pressure on the gold price but it would have been a bit more useful...
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Gold price soars on no-sales pact
; ...except for 2000 tonnes of bullion already...gold market". The gold price has been in decline...free to sell 1300 tonnes it had already earmarked...disposals of just 335 tonnes. "Gold will remain...have "shorted" the gold price in the belief it...positive for the ...
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Gold price skids after BoE auction
; ...half. The auction of 25 tonnes of gold by the Bank...triggered a plunge in the gold price in New York to $257...programme to sell 415 tonnes of the metal and is...The fresh falls in the gold price following yesterday...selling 415 of the 715 tonnes of bullion held in ...
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Gold Price Slide Spells Gloom for S. African
; The slide in gold price may take its toll on the South African...interest rate hikes are feared. The gold price dropped to its 20-year low Wednesday...5 percent. Analysts say the fall in gold price, which is hitting South Africa's foreign...
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Gold price falls after Bank auction
; THE BANK of England yesterday sold 25 tonnes of reserve gold for $285.25 a troy ounce, a disappointing result which sent the gold price lower. After the result gold was quoted...reducing British gold reserves by 415 tonnes from 715 tonnes - was somewhat disappointing.
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Gold price at six-year pinnacle
; ...has come after two years in which the gold price barely moved. But there are widely divergent...said that the sudden increase in the gold price bore all the hallmarks of a speculative...NatWest Markets, said that the rising gold price reflected concern about the attempt by...
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Investec predicts rise in gold price.
; ...Nick Rice Fundamentals should push the gold price higher, although it is currently struggling...in the oil price. Mr Sacks said the gold price could dip further if the dollar strengthened, as the gold price has a 91 per cent correlation with the...
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Bank retracts gold price-fixing report
; ...connived to keep the price of gold low. The eight-page report...evidence of unsustainable gold price manipulation" and says the...acknowledged to be more than 5,000 tonnes by the bullion bank apologists...thought to be well over 10,000 tonnes and may exceed 15,000 tonnes," the report ...
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Barclays to launch bonds linked to gold price
; ...guaranteed bonds linked to movements in the gold price. Gold, a traditional safe haven in times...one-off return of 10 per cent if the gold price has risen by 8.5 per cent over its six-month term. Whatever happens to the gold price, investors are guaranteed to get back...
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London Gold Price Fixes at 12.5-Year Low
; The gold price on the London market today fixed at its...what to do with their gold reserves. The gold price had surged to a high of 416.25 dollars...earlier this month found that the average gold price for next year was forecast between 300...
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