• Gold is down for third straight day

Market news

9 May 2012

Gold is down for third straight day

 

Gold continues its three-day decline against the backdrop of investor flight from risky assets and the strengthening of the dollar.

The tense situation in Greece, and increase the likelihood of exit from the eurozone countries have exacerbated the debt crisis in Europe, which led to the growth of yields on bonds of the euro area. Today, the yield on 10-year Spanish bonds again exceeded 6%, showing a maximum at 6.047%. Also added negative information about the possible nationalization of the Spanish bank Bankia Group.

The cost of the June gold futures on the COMEX fell today by 0.84% to $ 1578.5 an ounce.


 

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