Gold dropped to the lowest since August on Jan. 4 after the Federal Open Market Committee report for a Dec. 11-12 meeting showed that members were divided between a mid- or end-of-year end to the debt purchases, known as quantitative easing. Through Feb. 15, gold futures were down 4 percent this year as speculation grows that economies are improving...
Feb. 19 (Bloomberg) -- James Steel, an analyst at HSBC Securities (USA) Inc., talks about the outlook for gold and silver markets. He speaks with Sara Eisen, Alix Steel and Adam Johnson on Bloomberg Television's "Surveillance." (Source: Bloomberg)“The U.S. economy has certainly shown signs of strength, and people are now worried that the government may announce the end of the easing,” Frank McGhee, the head dealer at Integrated Brokerage Services LLC in Chicago, said in a telephone interview.
Gold futures for April delivery fell 0.4 percent to $1,603.70 an ounce at 10:30 a.m. on the Comex in New York. Prices touched $1,596.70 on Feb. 15, the lowest since Aug. 15. U.S. markets were shut yesterday for the Presidents Day holiday.
Futures trading volume was 65 percent higher than the average in the past 100 days for this time of day.
Silver futures for March delivery tumbled 1.3 percent to $29.46 an ounce in New York, after touching $29.36, the lowest since Jan. 4.
Platinum Rises
Platinum futures for April delivery rose 0.2 percent to $1,681 an ounce on the New York Mercantile Exchange.
Clashes between labor groups at Anglo American Platinum Ltd.’s Siphumelele mine in South Africa disrupted operations and caused one serious injury, according to police and the company, the world’s largest producer of the metal. Nine workers were shot with rubber bullets and three security guards were hurt in the fighting at the mine in Rustenburg yesterday.
One ounce of platinum bought as much as 1.0542 ounces of gold in London today, the most since August 2011, data compiled by Bloomberg show. (Bloomberg)
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