Just in case you are wondering why your gold stocks are down or you are getting margin calls, it is not the end of the world
From Bullion Vault
The Dollar Gold Price fell to $1732 per ounce Friday morning in London, close to one-month lows, while stock markets and the Euro also fell as a two-day European summit came to a close with several issues unresolved.
The Gold Price in Euros meantime sank to its lowest level since the end of August at €42,647 per kilo (€1326 per ounce).
Heading into the weekend, the Dollar Gold Price looks set for its second successive weekly fall, the first time this has happened since May.
"We hold selling by speculative financial investors responsible for the price slide," says today's Commodities Daily note from Commerzbank.
"In recent weeks they had strongly built up their positions and may now be seeing themselves forced to take profits given the faltering upswing."
The Silver Price also fell this morning, hitting a six-week low at $32.26 per ounce. Most other commodities saw gains, with the exception of copper which sold off, while US, UK and German government bonds all rallied.
