Wednesday, September 7, 2011

why gold silver price down september 7 2011

why gold silver price down september 7 2011 ; Gold Bullion prices fell to around $1833 per ounce Wednesday morning in London – 4.5% below yesterday's record intraday high.

Stocks and commodities gained and government bonds fell after Germany's highest court ruled the country's bailout policies are not in breach of its constitution.

Prices for Silver Bullion dipped to a low of $40.86 around lunchtime – a 5.5% loss for the week so far. From a physical perspective, demand for gold remains supported by India's wedding season and desperate Chinese customers.

Earlier on Wednesday Gold Bullion prices saw a sudden drop during Asian trade – losing 2.3% in two hours.

The Swiss franc dropped 7% against the euro after the Swiss National Bank settled the national currency at 1.2 against the euro in an attempt to protect the Swiss economy from the European debt crisis.

Gold prices
also dropped almost 0.6 percent at $1,891.60 per ounce, having risen earlier to a record $1921,5 an ounce.

gold silver price news today september 7 2011

South African Foreign Reserves Increase 2.7% in August on Gold Price Surge.
South African reserves advanced 2.7 percent in August as a surge in the gold price boosted the value of the country’s bullion holdings. Read More...

Gold Falls after German Court OKs Euro Aid
Gold prices fell around the world Wednesday after a German court cleared the way for Europe's richest nation to help its weakest ones and a slew of encouraging news lifted global stock markets. Read More...

Gold Bullion Price Falls, "Green Light" for more Euro Bailouts
The Bundestag is due to debate a proposal to increase the size of the Eurozone's current bailout mechanism – the €440 billion European Financial Stability Facility – later this month. Read More...

Gold Falls Sharply In Asia May Be Volatile
Gold fell sharply in Asian trade Wednesday, losing 2.3% ahead of the European session and catching traders and analysts by surprise, but fresh buying helped pare some of its losses. The yellow metal, which touched a high of $1,920.94 a troy ounce Tuesday, fell to an intraday low of $1,830.30/oz. Gold moved in and out of negative territory for most of the session amid minor profit taking and safe-haven buying. Read More...

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