- Today’s AM fix was USD 1,169.25, EUR 933.91 and GBP 730.55 per ounce.
- Yesterday’s AM fix was USD 1,170.75, EUR 936.90 and GBP 731.90 per ounce.
- Gold rose $0.80 or 0.7% to $1,167.60 per ounce yesterday and silver fell $0.13 or 0.8% at $16.03 per ounce.
- Gold in GBP is now marginally lower year to date after also taking a beating in recent days.
Gold in GBP - Year to Date 2014 (Thomson Reuters)
In London, gold reached $1,143.76, the lowest price since April 2010. In New York, Comex gold for December delivery slipped 1.9% to $1,145.10. The gold futures market saw huge dumping of gold in illiquid Asian markets overnight, according to Zero Hedge:
“For the 5th day in a row, "someone" has decided that 0030ET would be an appropriate time (assuming the 'seller' is an investor who prefers best execution rather than the standard non-economically-rational share-repurchaser in America) to be dumping large amounts of precious metals positions via the futures market. Tonight, with over 13,000 contracts being flushed through Gold - amounting to over $1.5 billion notional, gold prices tumbled $20 to $1151 (its lowest level since April 2010). Silver is well through $16 and back at Feb 2010 lows.”