A dramatic fall in the price of gold has caught many investors by surprise and raised questions over whether a bullish market that had seen prices climb for 12 straight years has ended.
On April 15, gold futures for April delivery plunged US$ 140.4, or 9.4 percent, to US$ 1,360.6 an ounce on the Comex division of the New York Mercantile Exchange. This was after a 4.1 percent decline on April 12, the previous day of trading. The two sessions’ trading combined reduced the price of gold futures by more than US$ 200 an ounce, or 13 percent.
The second day’s fall was the metal’s biggest one-day percentage drop since February 1983. In dollar terms, it was the biggest since January 1980.
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Wang Yuqian,Yang Lu via CHINA US Focus http://feedproxy.google.com/~r/ChinaUsFocus/~3/v6U1PLekLJQ/
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