Darauf haben wir doch alle gewartet: Biggest Fall in 13 Years!

verfasst von Emerald, 08.02.2006, 07:14

-->GOLD and other precious metal prices fell sharply overnight after climbing to new highs last week, with gold posting its biggest one-day decline in 13 years.

A correction was inevitable following a jump in prices over a short period of time, but the metals had potential to strike again after a breather, dealers said.
By midafternoon in New York, spot gold was down more than $US20, or 3.4 per cent lower, at $US549.80/550.70 an ounce. That compared with Monday's New York close of $US570.00/570.90.

The move was its biggest one-day decline in dollar terms in nearly 13 years, according to Reuters charts.

Tensions over Iran's nuclear ambitions had pushed gold to a 25-year high of $US574.60 last week.

"Whether the metal stabilises here or falls further depends a little bit on the (physical) demand," said Wolfgang Wrzesniok-Rossbach, head of precious metals marketing at Germany's Heraeus.


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"We have seen quite some offtake, not only in gold but also in silver and platinum... I think this correction is temporary," he said, adding that further moves by gold would depend on the political situation in the Middle East and crude oil prices.
Oil sank 3 per cent to about $US63 a barrel in New York as dealers anticipated another increase in already robust U.S. crude supplies, pushing worries over Iran's oil exports into the background.

The West is showing concern that a diplomatic crisis with Iran over its nuclear ambitions could lead the OPEC nation to cut its exports in protest, or could lead to sanctions that limit its shipments.

"Geopolitical tensions have helped to support the (gold) price, but otherwise the market is lacking any external impetus," Alan Williamson, head of commodity research at HSBC Bank, said.

Base metals also backtracked during mid-afternoon trading as fund profit-taking spilled over. Declines were seen as a needed correction, but not severe, as wariness of short-selling prevailed, dealers said.

Matthew Turner, analyst at Virtual Metals, said gold prices had risen more than $US100 an ounce in the past three months and a correction at some stage was inevitable.

But analysts said gold would rise again to hit new highs.

"Much of gold's recent rally has been supported by positive investor sentiment in light of rising oil prices, inflation concerns and geopolitical volatility, and we do not expect these supportive macro-factors to dissipate in the near term," Barclays Capital said in a report.

In other precious metals, palladium fell to $US286.50/290.50 an ounce. It closed in New York on Monday at $US308/312.

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gesamter Thread:

• Darauf haben wir doch alle gewartet: Biggest Fall in 13 Years! - Emerald, 08.02.2006, 07:14
  • Wozu die Aufregung? - BillyGoatGruff, 08.02.2006, 08:05
    • Re: Wozu die Aufregung? Genau - ist doch nur 'ne Blase... - certina, 08.02.2006, 08:44
      • Re: Wozu die Aufregung?...take the gold price towards $2000/oz., - Nickelman, 08.02.2006, 12:59
        • und Northgate sein gold-stock? - BillyGoatGruff, 08.02.2006, 22:07
      • Re: Wozu die Aufregung? Genau - ist doch nur 'ne Blase... - apoll, 08.02.2006, 23:16
  • So schlimm ist es gar nicht. Gold derzeit bei 556$. Korrektur, vor neuen Höhen.. (o.Text) - sensortimecom, 08.02.2006, 09:22
    • 548 $ (o.Text) - yatri, 08.02.2006, 10:05
      • Re: 548 $ und target angeblich gut und gerne bei $475.00 - Emerald, 08.02.2006, 10:50
        • Dafür ist die internationale Lage nicht geeignet. Rohstoffpreise bleiben hoch. (o.Text) - sensortimecom, 08.02.2006, 11:03
          • Re: Dafür ist die internationale Lage nicht geeignet. Rohstoffpreise bleiben hoch. (o.Text) - chiron, 08.02.2006, 11:18
            • Re: Dafür ist die internationale Lage nicht geeignet. Rohstoffpreise bleiben hoch. (o.Text) - albert, 08.02.2006, 12:46
            • Re: Dafür ist die internationale Lage nicht geeignet. Rohstoffpreise bleiben hoch. (o.Text) - sensortimecom, 08.02.2006, 18:25