28 Jun 2013
Gold extends decline sub-$1200
FXstreet.com (Barcelona) - Fourth consecutive day in the red for Gold, that posted today a fresh weekly low, and lowest since August 2010, breaking below the key $1200 figure, at $1197. Silver did the same printing a fresh near 3-year low at $18.39, although losing less than Gold in the day.
Silver has build a doji daily candle with a long upper shadow but no body, while Gold lost about $26 for the day, making the Gold:Silver ratio to fall from fresh multi-year highs around 69, to last 65.27 at the NY close, down -1.26% for the day.
Oil in the other hand climbed a generous +1.48% to close in NY shy of the $97 mark, making the Gold:Oil ratio to plummet -3.36% for the day to fresh multi-year lows slightly above the 12 mark. Oil has recovered more than $3 from yesterday's initial knee-jerk sell-off reaction to rising oil and gasoline stock piles published by the EIA.
Silver has build a doji daily candle with a long upper shadow but no body, while Gold lost about $26 for the day, making the Gold:Silver ratio to fall from fresh multi-year highs around 69, to last 65.27 at the NY close, down -1.26% for the day.
Oil in the other hand climbed a generous +1.48% to close in NY shy of the $97 mark, making the Gold:Oil ratio to plummet -3.36% for the day to fresh multi-year lows slightly above the 12 mark. Oil has recovered more than $3 from yesterday's initial knee-jerk sell-off reaction to rising oil and gasoline stock piles published by the EIA.