Sunday 23 June 2013

Bad news for investors in gold coins and krugerrands

Gold and silver
The horror year of precious metals
Bad news for Investors in Gold and Silver: Precious metal prices have slipped to multi-year lows. And the bottom has not been reached.

No signs of a turnaround in the gold market.
The bad news for precious metals investors will not cease. After investors had to cope with in April, that the prices of precious metals fell double digits, was a new dimension on Thursday. The price of gold fell by more than 6 percent down and recorded for the first time since September 2010 temporarily only $ 1,285. In euro terms, for the first time since March 2011, the price fell back below 1000 euros and traded at 976 euros. So that the precious metal lost this year alone, more than 20 percent in value. For comparison, in the autumn of last year, an ounce still cost 1378 euro or $ 1800.