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Tuesday, May 3, 2011

why is the price of gold, silver dropping may 2011

why is the price of gold, silver dropping may 2011 : Silver prices fell sharply on Monday, pulling prices of silver mining stocks down with them, after a recent spike led a major exchange to tighten requirements for speculative traders, pushing some out of the market. Silver prices tumbled as much as 13 percent in opening trading in Asia -- before news broke that U.S. forces had killed al-Qaida leader Osama bin Laden -- and then partially recovered.

In New York, spot prices for silver dropped as much as 6.7 percent in opening trading. By midday, the price stabilized, down about 3.2 percent at $46.40 an ounce, according to Kitco Metals Inc.

why is the price of silver dropping may 2011

five reasons why silver prices would go up despite this correction
Silver futures dropped for a third day on Comex as the exchange hiked margin money requirements. The drop is seen as the worst run for the commodity since January.Read More...

Gold, silver drop on firm dollar, rate hike in India
Gold and silver were getting pummeled Tuesday on a stronger U.S. dollar and a surprise rate hike in India.Read More...

Drop in silver prices hits silver mining stocks
Prices climbed above $49 late last week, and are up about 59 percent this year, with the sharpest gain coming in April. Jeff Clark, a precious metals analyst with the firm Casey Research, attributed Monday's decline to a move Friday by the CME Group Inc. to curb speculative trading. Read More...

Silver recovers while gold prices steady
The price of spot gold steadied today after hitting a record US$1,575.79 an ounce yesterday, while silver recovered from its biggest drop in 29 months. The death of al Qaeda's leader Osama Bin Laden accelerated spot gold's drop to $1,540.39 from a record high of $1,575.79 on Monday. Read More...

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