Mineweb.com - Gold investors need strong stomachs - GOLD NEWS | Mineweb

Mineweb.com - The world's premier mining and mining investment website Gold investors need strong stomachs - GOLD NEWS | Mineweb

While gold in dollar terms rallied to $1,789 an ounce on Friday morning, it is still down 3.6% from last week's close analysts predict that investors are going to need a strong stomach

Author: Ben Traynor
Posted: Friday , 16 Sep 2011

LONDON (BULLIONVAULT) -

Gold Investors "Need Strong Stomachs", ECB Dollar Move Not "Killer Package" to End Crisis, "Use More Leverage" Geithner tells Euro Leaders

U.S. DOLLAR gold bullion rallied to $1789 an ounce Friday morning London time - down 3.6% from last week's close - following a sharp fall that began the previous day after key central banks announced they will begin US Dollar liquidity operations.

Silver bullion gained 1.9% from Friday morning's low to hit $40.20 per ounce by lunchtime - though this still represents a 2.9% drop for the week.

Banking stocks were among Friday morning's biggest gainers as European equity markets continued the rally they began on Tuesday.

Earlier on Friday, gold bullion continued the previous day's decline during Asian trading, hitting a low of $1764 per ounce - 5% down on last week's close.......

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