BULLION LATEST – GOLD PRICE TUMBLES TO FOUR-SESSION LOW ON STRONG US GDP READING
0 6 0 Google+1
Jul 30, 2014 - 1:49 PM GMT
by
Eddie van der Walt
Spot gold prices tumbled to their lowest in four sessions after US advance second quarter GDP came rebounded far more strongly than the market had anticipated.
The annualized reading came in at four percent, 0.9 percentage points above the market forecasts and at the highest since the fourth quarter of 2009. This is a marked improvement on the first quarter reading of 0.1 percent.
The yellow metal’s session low has thus far been at $1,291.80 per ounce, but it has since recovered somewhat to $1,295.10/1,295.80 per ounce, down just $3.30 on the close.
The other metals in the complex have largely ignored the news, with the silver, platinum and palladium price all up on their respective closes.
- See more at:
http://www.bulliondesk.com/gold-new...ng-us-gdp-reading-79239/#sthash.aMhqFDqV.dpuf
